US: Arabica coffee prices edge up, sugar eases

Arabica coffee futures on ICE edged higher on Wednesday as the market consolidated after the prior session’s sharp fall, while raw sugar prices were lower. COFFEE * December arabica coffee KCc2 rose 0.2% to $2.1665 per lb by 1453 GMT after falling by nearly 2.5% on Tuesday. * Dealers said concerns about supply tightness, however, were beginning to ease. * They noted that ICE-certified stocks had posted the first daily increase since June as traders recertify thousands of bags in a move which can remove age discounts. * ICE-certified arabica stocks as of Aug. 16 stood at 577,212 bags, up from a 23-year low of 571,580 bags a day earlier. * November robusta coffee LRCc2 rose 0.4% to $2,236 a tonne. SUGAR * October raw sugar SBc1 fell 0.2% to 18.23 cents per lb. * Dealers said recent weakness in fuel prices in Brazil remained a bearish influence. * Lower fuel prices can prompt Brazilian mills to switch to using more cane to produce sugar rather than cane-derived biofuels. * Brazilian ...