London cocoa futures on ICE rose on Tuesday and were on track for their biggest monthly gain since November 2024, supported by concerns of a sharp decline in cocoa production in top grower Ivory Coast in the upcoming 2026/27 season.
COCOA
* London cocoa ICEEUR:C2! rose 3.4% to £3,847 a metric ton by 1258 GMT with the market on track for a monthly gain of 30.3%.
* Some analysts expect Ivorian production to fall to around 1.7 to 1.8 million metric tons in the 2026/27 season, down from around 2.2 million in 2025/26.
* Heavy rains flooded several cocoa plantations in Ivory Coast's cocoa-growing regions last week, threatening the development of the September to February main crop, farmers said on Monday.
* New York cocoa ICEUS:CC1! gained 2.8% to $5,107 a ton.
SUGAR
* Raw sugar ICEUS:SB1! rose 0.3% to 14.33 cents per lb after hitting a 3-1/2-week high of 14.43 cents earlier in the session.
* The market was on track for a monthly gain of 1.9%, supported by concerns that El Nino weather conditions could curb production in major Asian producers India and Thailand.
* India is likely to receive below-average monsoon rainfall in July after logging its fifth-driest June since records began in 1901, the weather department said on Tuesday.
* Dealers said the expiry of the July contract (SBN6) on Tuesday should provide a short-term focus.
* A delivery of around 750,000 to 850,000 tons was expected, sharply up from the July 2025 contract when only around 45,000 tons were tendered.
* White sugar ICEUS:SF1! gained 0.2% to $474.70 a ton, climbing back towards Monday's 9-1/2-month high of $481.90.
COFFEE
* Arabica coffee ICEUS:KC1! rose 5.8% to $2.94 per lb after hitting an eight-week high of $2.9450.
* The market was on track for a monthly gain of 13.6%.
* Dealers said the focus remained on the harvest in top producer Brazil with recent rains slowing progress and raising some quality concerns.
* Robusta coffee ICEEUR:RC2! gained 3.4% to $3,686 a ton.