Sugar slumps to 4-year low while robusta extends fall

NEW YORK — Raw sugar futures on ICE fell to a four-year low on Tuesday, with an improving outlook for crops in Asia contributing to the recent downtrend, while robusta coffee extended its decline as newly harvested crops boosted supplies.

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SUGAR: Raw sugar was little changed at 16.90 cents per pound (lb) after hitting a four-year low of 16.66 cents earlier.

Dealers said a favorable outlook for crops in major Asian producers such as India and Thailand after a strong start to the monsoon season had put downward pressure on prices.

They also noted that Brazil's Petrobras had cut gasoline prices this week for the first time since 2023, adding to the market's bearish mood.