SOFTS-Cocoa falls to near two-year low, arabica coffee edges up

LONDON, Nov 24 (Reuters) - London cocoa futures fell to the lowest level in nearly two years on Monday while arabica coffee and raw sugar prices were slightly higher.

COCOA

London cocoa LCCc2 fell 2.3% to 3,790 pounds a metric ton by 1148 GMT after slumping to a low of 3,773 pounds, its weakest since January 2024.

Dealers said removal of tariffs on many agricultural products by U.S. President Donald Trump earlier this month and deforestation legislation in the European Union potentially not coming into force until December 2026 had put downward pressure on prices.

Port arrivals in top producer Ivory Coast are also picking up after a slow start to the season while price charts appear to be bearish, they added.

Speculators in London cocoa increased a net short position by 3,737 lots to 22,748 lots in the week to Nov. 18, exchange data showed.

New York cocoa CCc2 lost 1.6% to $5,078 a ton, having hit a 21-month low of $5,020.

COFFEE

Arabica coffee KCc2 rose 0.5% to $3.7135 per lb with the market stabilising after falling sharply on Friday.

Prices fell to a two-month low on Friday after U.S. President Donald Trump removed 40% tariffs on imports of many Brazilian agricultural products, including green coffee beans.

Brazil risks losing its market share in instant coffee sales in the U.S. after President Donald Trump retained 50% tariffs on the product while cutting duties for green coffee, the Brazilian Instant Coffee Association said on Friday.

Robusta coffee LRCc2 was down 0.2% at 4,499 pounds a metric ton.

Dealers said rains were easing in top robusta producer Vietnam and some rivers were receding but both the drying and movement of newly harvested beans remained challenging and there are also quality concerns.

SUGAR

Raw sugar SBc1 rose 0.3% to 14.83 cents per lb.

White sugar LSUc1 fell 0.3% to $422.90 per lb.