Raw sugar futures fell to their lowest level in 2010, while Arabica coffee hit an one-year low.
Intercontinental exchange (ICE) raw sugar futures fell more than 2% to the lowest in nearly five years, dragged down by technical selling for a third day, while Arabica coffee futures hit an one-year low.
London cocoa futures rose to a five-week high.
Raw sugar futures continued this week's plunge, attracting technical sellers, traders said, putting pressure on futures prices yesterday as India approved subsidies for raw sugar exports.
ICE- may raw sugar futures closed down 32 cents, or 2.2%, at 14.32 cents a pound, after plunging 2.7% to 14.25 cents, the lowest since may 2010.
Traders are concerned that March raw sugar futures expire on February 27.
March sugar (5051,-40.00,-0.79%) futures closed down $6.30, or 1.6%, at $381a tonne, falling to an intraday contract low of $379.10.
Traders said Arabica coffee futures rose in late trading driven by short covering. ICE- may Arabica coffee futures closed up a quarter of a cent, or 0.2%, at $1.5290 a pound after falling to an one-year low of $1.5085. The contract fell 8.2 per cent this week, the biggest weekly decline since October 2014.
May Robusta coffee futures closed down $16, or 0.8%, at $1974 a tonne.
New York May cocoa futures closed up $4, or 0.1%, at $2979 a tonne. London cocoa futures in may closed up 16 pounds, or 0.8%, at 2015 pounds a tonne, the highest since January 15.
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Xinhua Yunnan Channel, February 17 (Reporter Ji Zhe Peng) in Yunnan, the largest coffee producing area in China, the lack of traditional coffee drying space and the decline in quality caused by cloudy and rainy weather restrict the initial processing of coffee. A few days ago, Lingfeng Group of Lincang City, Yunnan Province independently developed back-pressure hot air penetration auxiliary drying coffee technology and equipment, which realized the factory-oriented coffee processing.
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