SOFTS-Raw sugar steadies amid worries over India supply
(Updates prices, adds details)
LONDON, Feb 21 (Reuters) - Raw sugar futures on ICE steadied on Tuesday supported by ongoing worries about output in India, a top producer, while arabica coffee matched Friday's near four-month high.
SUGAR
* March raw sugar edged up 0.1% to 21.41 cents per lb at 1523 GMT, still short of a six-year peak of 21.89 cents hit early Feb.
* Dealers said sugar continues to derive support from chatter that production in India will drop rapidly this season due to the cane maturing early and losing weight.
* They noted that Alvean, the world's largest sugar trader, is pegging Indian production at 33.5 million tonnes, with many others seeing it even lower.
* Egypt's strategic reserves of sugar are sufficient to meet supply for more than three months, the supply ministry said.
* Singapore-listed Wilmar International reported a 27% rise in its full-year net profit, underpinned by robust performance across core segments including sugar.
* May white sugar rose 0.1% to $570.40 a tonne.
COFFEE
* May arabica coffee rose 3.7% to $1.9250 per lb, having hit its highest since mid-October at $1,9295.
* The market has been driven primarily by concern over soaring prices in the physical markets in top producers Brazil and Colombia.
* Brazilian coffee farmers sold 78% of the current crop (2022/23, July-June) by Feb. 15, a slower selling pace than seen at this time last year (86%), consultancy Safras & Mercado said.
* May robusta coffee rose 0.4% to $2,126 a tonne after touching a four-month high of $2,130.
COCOA
* May London cocoa fell 1.5% to 2,113 pounds a tonne. It had risen on Friday to a six-year high of 2,155 pounds.
* Ivory Coast's Cocoa and Coffee Council (CCC) said on Monday that Ivorian cocoa exporters would still be able to honour their contracts despite a slowdown in port arrivals.
* The CCC was responding to reports that cocoa exporters in the world's top-producing nation were close to defaulting on their contracts due to a lack of beans from the main harvest.
* May New York cocoa slipped 0.1% to $2,769 a tonne, having hit its highest in a year at $2,812. (Reporting by Maytaal Angel; editing by Jason Neely and Ed Osmond)