SOFTS-Robusta coffee slides as storm fears ease, cocoa extends rally

LONDON, Dec 1 (Reuters) - Robusta coffee futures on the ICE exchange slid on Monday as fears over damage from another tropical storm in top grower Vietnam eased, while cocoa extended its rally, bouncing off last week's two-year lows.

COFFEE

Robusta coffee LRCc1 fell 2.4% to $4,456 a metric ton.

The contract gained 6.4% two weeks ago amid rains, floods and landslides in Vietnam, but rose only 1% last week.

"The Central Highlands (coffee region) just saw 1–2 days of drier weather, prompting farmers to return to the fields and resume intermittent harvesting," noted a Vietnam-based dealer.

This week, tropical storm Koto is expected to linger near southern Vietnam, with minimal impact on Central Highlands coffee regions, according to LSEG Weather Research.

Arabica coffee KCc2 fell 1.1% to $3.7710 per lb, having gained 3.2% last week.

COCOA

London cocoa LCCc2 rose 1.2% to 4,118 pounds a ton, having hit 3,650 pounds last Tuesday, its lowest level in nearly two years.

London cocoa speculators increased their net short position by 3,555 lots to 26,303 lots as of November 25, exchange data showed.

Cocoa traders are increasingly nervous given funds' short position in what is a technically oversold market, dealers said.

Cocoa supply availability, however, is improving. About 100,000 tons were delivered between November 24 and November 30 to top grower Ivory Coast's ports, up from 92,000 tons in the same week of the previous season, exporters estimated.

The International Cocoa Organization on Friday estimated there was a global cocoa surplus of 49,000 metric tons in the 2024/25 season (October/September).

New York cocoa CCc2 rose 1.5% to $5,510 a ton.

SUGAR

Raw sugar SBc1 ​​​fell 1.3% to 15.03 cents per lb, having posted a weekly gain of 2.9% last week.

Sugar output in Brazil's key Center-South region grew 8.7% to 983,000 metric tons in the first half of November versus the year-earlier period, data from industry group UNICA showed. An S&P Global Commodity Insights survey had forecast output up 18.9% year-on-year.

The UNICA data also showed the amount of cane that Brazilian mills in the region allocated to sugar production fell to 38.6%, with around 61% of the raw material directed to making ethanol fuel.

White sugar LSUc1 fell 2% to $426.60 a ton, having gained 2.7% last week.