SOFTS-Coffee gains amid low stocks and as tariffs freeze US-Brazil trade
LONDON, Aug 8 (Reuters) - Coffee futures on ICE rose on Friday, heading for gains of 7% on the week, as U.S.-Brazil trade remains frozen due to the Trump administration's tariffs, and as stocks continue to slide.
Cocoa and sugar also rose.
COFFEE
* Arabica coffee futures KCc1 rose 2.6% to $2.9875 per lb at 1159 GMT, having hit a two-week high of $2.9940.
* Dealers said there are next to no new trades between the U.S. and top coffee grower Brazil after Trump imposed a 50% tariff on Brazilian goods.
* As for existing trades, coffee loaded in Brazil by the August 6 tariff deadline can enter the U.S. without paying the tariff, provided it arrives by October 6.
* The U.S. gets about a third of its coffee from Brazil, and market participants are for now drawing on ICE-certified stocks KC-TOT-TOT, which have fallen to a more than one-year low.
* Hopes the U.S. will exempt Brazilian coffee from tariffs are dimming meanwhile. Brazilian President Luiz Inacio Lula da Silva has said he sees no room for direct talks with Trump.
* Robusta coffee LRCc2 rose 2.2% to $3,451 a metric ton.
SUGAR
* Raw sugar SBc1 rose 0.7% to 16.12 cents/lb but was heading for a third consecutive week of losses.
* The UN's Food and Agriculture Organization (FAO) said its sugar price index eased for a fifth consecutive month in July on expectations of increased production in Brazil and India, despite signs of recovering sugar import demand.
* Dealers, however, noted ongoing concerns about the ATR (sugar content) in top grower Brazil's cane in 2025/26.
* France's constitutional court on Thursday blocked the re-introduction of a pesticide accused of harming bees.
* White sugar LSUc1 rose 1% to $467.30 a ton.
COCOA
* London cocoa LCCc2 rose 1.5% to 5,488 pounds per ton, heading for gains of 2% this week.
* New York cocoa CCc2 rose 1.7% to $8,199 a ton.
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