Brazil: Cocoa futures in the UK retreat further from their recent peak while sugar goes up

NEW YORK (Reuters) - London cocoa futures fell again on Wednesday after hitting a 46-year high earlier in the week as sugar prices soared. COCOA * December London cocoa contract fell 10 pounds, or 0.4%, to 2,622 pounds a tonne after peaking at 2,759 pounds on Monday - its highest level since 1977. * Dealers said the recent rise was driven in part by concerns about crop disease in West Africa following heavy rains and expectations that there could be a third consecutive global shortfall in the 2023/24 season. * Improved crop weather, however, led to some profit taking, along with concerns that the global economic woes may reduce demand. * "The weather has become favorable in some countries, including Ghana, Cote d'Ivoire and Cameroon, with rainfall dissipating and sunshine increasing, which can help plants grow and control disease," ING said in note. * The December New York cocoa contract fell $13, or 0.4%, to $3,363 a tonne. SUGAR * The October raw sugar contract closed up 0.26 ...