LONDON. Oct 9: Sugar prices fell back this week amid expectations of handsome harvests in leading producer nations which could result in a supply glut
White sugar contracts on the London market fell to 189.5 dollars a tonne for March delivery from 193.3 dollars last week.
In New York March con-trapts fell to 6.72 cents per pound from 6.93 cents.
Thailand cane sugar production is forecast to jump 10 per cent in the 1999-2000 season to 55 million tones, thanks to early monsoon rains.
European Union sugar production in the same season meanwhile is see coming in at 18.706 million tonnes, up five per cent from the 1998-99 season. according to the US agriculture Department.
Brokerage EDetF Man International sees a total world sur-?lus of six million tonnes in the 999-2000 season following a
nine million tonne surplus last year, a glut which will continue to prey on Sugar prices, analysts say.
Vegetable Oils: Slip. US soya iirices fell back as more avourable weather bore down on harvesting at Midwest plantations. but the downside was limited by weekly sales of soya bean meal that were higher than expected.
The price of a bushel of soya on the Chicago Board of Trade (CBoT) fell by two cents to 4.89 dollars (for November delivery).
Prices on the Rotterdam vegetable oil market were unavailable at time of writing.
Rubber: Rubber prices rose this week despite growing fears that the^International Natural Rubber Organisation. INRO. was all but dad in the water, says AFP.
Thailand and Malaysia which control 60 per cent of world production have threatened to leave INRO. accusing it of toothlessness.
But prices were supported by speculative buying emerging in particular from Japanese investors.
Bad weather hitting Malaysian and Thai producer regions also helped prices by threatening production, dealers said.
The London rubber index rose to 445 pounds per tonne (for November delivery) for 412.5 pounds and to 450 pounds (for December) from 417.50 pounds.
In Kuala Lumpur, the RSS1 index rose to 2.36 ringgits per killo from 2.29 ringgits.
The SMR 20 index for rubber used in tyre manufacture rose to 2.41 ringgits per kilo from 2.32 ringgits.
Cocoa: Cropper. Cocoa prices slumped this week as market players turned sellers following predictions of ominously large harvests in west African and Central American producer regions.
On the London market. firices for December delivery ell back 33 pounds to 656 pounds a tonne.
The latest expert forecasts anticipate bumper crops in west Africa and Central America for the 1999-2000 season, which could undermine market sentiment.
Coffee: Blend. Coffee prices were mixed as market players waited to see if forecast dry weather would have a detrimental effect on plantations in the worldjs leading coffee producer.
In London, Robusta prices for January delivery shed 30 dollars to 1.197 dollars a tonne.
Prices on the New York market for Arabica beans rose to 88.30 cents a pound (for March delivery) for 85.45 cents a pound.
Some experts are predicting a drop-off of up to 20 per cent in the Brazilian 2000-2001 harvest. initially forecast at some 40 million sacks.
Tea: Cosy. Demand was perky if a little irregular in the Mombasa auction houses, the London Tea Brokers Association said.
High quality BPI (Broken Pekoe) leaves were largely unchanged. while average lots gained between two and five cents a kilo and lesser leaves lost up to five cents.
PF1 (Pakoie Fannings) shredded leaves lost between five and 20 cents a kilo.
Grains: Cede. Grain prices fell back this week as dry weather helped harvesting operations.
In Chicago, a bushel of wheat (27.2 kg. for December) shed 17 cents to 258 cents, as operators factored in an upward revision of estimates for US stocks following the 1999-2000 seasons.
Egypt's decision to cancel an order for 60.000 tonnes of US what also weighed heavy on prices.
Maize prices fell five cents to
203 cents'^ bushel (of 25.4 kg. for December delivery) amid speculation that yields in the Midwest would be higher than expected and expectations of a growth in Chinese sales.
In London, wheat prices lost 50 pence to 70.35 pounds per tonne (for November delivery.)
Cotton: Club. US cotton prices fell this week amid speculative selling, as dealers awaited a US Agriculture Department report on US output goba^ supply and demand for
October contracts in New York lost 90 cents to 49.25 cents a pound by the week-end.
Cash pricey covered by the Cotton Outlook index slipped to 47.35 cents from 48.35 cents.
Wool: Warmer. Wool prices stabilised somewhat this week after falling sharply last week. The Eastern index closed two cents higher at 549 cents a kilo. The Wooltops index slipped three pence to 277 pence a kilo.