Robusta coffee falls to 2-month lows, cocoa also down
Adds comments and closing prices
NEW YORK, Oct 22 (Reuters) - Robusta coffee futures on ICE slipped on Tuesday to a fresh two-month low on reports of weaker demand, while cocoa and sugar prices also fell.
COFFEE
* November robusta coffee LRCc1 settled down $90, or 2%, at $4,487 a metric ton, after earlier hitting the lowest since Aug. 15 at $4,459/ton.
* Dealers said demand for coffee shipments from top producer Vietnam was weak because many have already secured coffee from other origins, especially as the EU's deforestation regulation had been expected to come into effect at the end of 2024.
* The likely postponement of the EU regulationhas reduced the urgency for buyers to engage in new transactions, further quieting the market, dealers said.
* December arabica coffee KCc1 fell 0.7% at $2.4985 per lb.
COCOA
* March London cocoa LCCc2 settled down 126 pounds, or 2.5%, to 4,937 pounds per ton, having gained 0.8% on Monday.
* Though market players still expect an improved cocoa crop this season, some are scaling back market balance estimates.
* Commerzbank noted that demand had yet to react strongly to historically high prices, having decreased by only 0.6% year on year in North America, Europe and Asia combined inthe 2023/24 season (Oct-Sept).
* Analyst BMI has forecast another global deficit in the current 2024/25 season. The projected deficit is small, at only 30,000 tons, but it would make for a fourth consecutive.
* December New York cocoa CCc1 fell 3.4% to $7,140 a ton.
* Abundant rainfall in most of the topproducer Ivory Coast's main cocoa-growing regions last week boosted prospects for the October-to-March main crop, farmers said, while buyers flagged potential quality concerns.
SUGAR
* March raw sugar SBc1 settled down 0.5% at 21.73 cents per lb, having hit a one-month low of 21.55 cents.
* "The market looks like it is still in a prolonged corrective move after the rally to 23.64," said the McDougall Global View Sugar Report. "It appears to be removing some risk premium built up over concern for the 2025/26 Brazil crop as dry weather dragged on," it said.
* Rains returned to most of Brazil, giving better conditions for crops such as sugarcane and coffee to recover.
* December white sugar LSUc1 fell 0.3% at $561.20 a ton.
Reporting by Maytaal Angel and Marcelo Teixeira
Editing by David Goodman and Tasim Zahid
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