Raw sugar futures rallied to a fresh 6-1/2 month peak on Tuesday, buoyed by worries drought will erode yields in Brazil into next season, and arabicas jumped within sight of a 13-year top. New York cocoa futures rose but were near their lowest level in 14 months, pressured by favourable prospects for crops in West Africa, the world's premier cocoa-growing area.
ICE October raw sugar futures were up 0.52 cent or 2.20 percent at 23.86 cents a lb at 1519 GMT. Arabica coffee futures surged on investor buying to within sight of the 13-year peak of 198.65 cents a lb touched on September 8. ICE December arabica coffee futures were up 6.1 cent or 3.2 percent at $1.9525 a lb. Prices on ICE cocoa were also higher with December up $64 at $2,674 a tonne.
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