Raw sugar touches eight month low

Raw sugar futures on ICE slid more than 2 per cent on Wednesday to an 8-month low and whites dropped to a 6-month trough on investor liquidation, discouraged by a lack of consumer buying. ICE May raw sugar fell over 2 per cent to an eight-month low of 17.66 cents a lb and then clawed back a little ground to stand at 17.86 cents, down 0.38 cent or 2.1 per cent, at 1112 GMT. Liffe May white sugar also fell over 2 per cent to a 6-month low of $509.60 per tonne, before clawing back territory to stand at $512.50 per tonne, down $8.90 or 1.7 per cent, in modest volume of 2,446 lots. ICE May cocoa was up $36 or 1.3 per cent to $2,884 per tonne, while Liffe July cocoa was up £5 or 0.2 per cent to 2,188 pounds per tonne in tiny volume of 323 lots. Liffe May robustas were up $7 or 0.6 per cent to $1,238 per tonne in slim turnover of 1,027 lots, while ICE May arabicas were up 0.35 cent or 0.3 per cent to $1.3310 per lb.