Sugar prices fell sharply on Tuesday on news India has allowed 500,000 tonnes of unrestricted exports, while arabica coffee declined further from a recent 34-year peak and appeared poised to move lower. Cocoa futures were firm, with the US market feeling a lift from the strong pound against the greenback.
Overall dealings were light, with volume in US markets down roughly 35 percent from the 30-day average, preliminary Thomson Reuters data showed. No 2 sugar grower India has allowed 500,000 tonnes of unrestricted sugar exports, signalling improved output sentiments that could ease global prices. May raw sugar on ICE lost 0.32 cent to finish at 27.16 cents per lb. May arabica coffee on ICE tumbled 3.55 cents to finish at $2.7345 per lb. May cocoa on ICE rose $74 or 2.3 percent to finish at $3,263 per tonne.