SOFTS-Raw sugar rebounds from seven-week low, cocoa climbs
Adds background, updates prices
LONDON, June 12 (Reuters) - Raw sugar futures on ICE rebounded from a seven-week low on Friday buoyed by crop concerns linked to El Nino conditions in the coming months, while cocoa prices also climbed.
SUGAR
* Raw sugar SBc1 rose 1.2% to 13.95 cents per lb at 1407 GMT, having earlier hit a seven-week low of 13.68 cents.
* The market is on track for a weekly loss of 1.3%.
* Dealers said early weakness was driven by a decline in crude oil prices and ample short-term supplies.
* They noted, however, that the outlook for global sugar production in the 2026/27 season was deteriorating, with mills in Brazil favouring ethanol over sugar as the cane harvest progresses in the Centre-South region.
* An El Nino climate phenomenon could also curb production in several countries, including India and Mexico.
* Moderate to strong El Nino conditions are likely to prevail during India's June-September monsoon season , the weather bureau said on Friday, raising concerns about rainfall and crop prospects in the world's most populous country.
* White sugar LSUc1 gained 0.7% to $449.60 a metric ton.
COCOA
* London cocoa LCCc2 rose 1.8% to £2,916 a ton and was on track for a weekly gain of 1.4%.
* A rise in port arrivals in top grower Ivory Coast and a generally favourable outlook for the rest of the mid-crop harvest continue to weigh on prices.
* The market, however, is underpinned by concerns that production in West Africa will decline in the 2026/27 season partly due to El Nino weather conditions.
* "We maintain that weather-related risks will provide upside support to prices over the coming quarters," BMI said in a note on Friday.
* New York cocoa CCc2 rose 2.9% to $3,908 a ton.
COFFEE
* Arabica coffee KCc2 rose 1.3% to $2.5350 per lb with the market on course to post a weekly gain of 4.7%.
* Brazil's green coffee exports increased 4.2% in May from a year earlier, landing at 2.73 million 60-kg bags in the first monthly increase since November 2024, industry group Cecafe said on Thursday.
* Robusta coffee LRCc2 gained 4.2% to $3,533 a ton.
