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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