SOFTS-Arabica coffee sets two-month high buoyed by low stocks
LONDON, Aug 19 (Reuters) - Arabica coffee futures on ICE rose to a two-month high on Tuesday, boosted by speculative buying linked to low exchange stocks and bullish price charts.
COFFEE
* Arabica coffee futures KCc1 rose 2.3% to $3.5165 per lb by 1404 GMT after setting a two-month high of $3.5440.
* Dealers said speculators had been continuing to extend a net long position against the backdrop of low certified stocks while roasters appear short of cover and likely to have to make further purchases in coming weeks.
* Exports from Brazil also remain slow with trade disrupted by a 50% tariff on U.S. imports from the world's top producer.
* Robusta coffee LRCc2 gained 4.6% to $4,203 a metric ton.
COCOA
* New York cocoa CCc2 fell 0.2% to $8,168 a ton.
* Dealers said the market was underpinned by concerns about dry weather in West Africa.
* "Cocoa areas will continue to observe drier-than-normal conditions over the next two weeks," LSEG Research and Insights said in a note on Tuesday.
* A coalition of Ghanaian cocoa farmers has threatened to bar officers of the national regulator from their farms to protest the newly announced producer price for the upcoming season, which they say could fuel illegal smuggling to Ivory Coast and Togo.
* London cocoa LCCc2 rose 0.3% to 5,552 pounds per ton.
SUGAR
* Raw sugar SBc1 rose 0.4% to 16.32 cents per lb.
* Brazil's Petrobras PETR3.SA is leaning toward corn as the raw material for a renewed foray into ethanol, potentially sidelining sugarcane and beleaguered sugar producer Raizen RAIZ4.SA, three Petrobras sources familiar with the matter said, citing preliminary evaluations.
* White sugar LSUc1 gained 0.4% to $478.40 a ton.
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