Raw sugar, coffee head further away from peaks, cocoa slides
LONDON, Sept 30 (Reuters) -Raw sugar and arabica coffee futures on ICE headed further away from recent peaks on Monday as the market consolidated gains linked to the drought in top producer Brazil, while cocoa slid in volatile trade.
SUGAR
* October raw sugar SBc1, which expires later this session, fell 1% to 22.56 cents per lb at 1217 GMT, heading further away from last week's 7-month peak.
* Speculators ended their bearish bets in raw sugar futures in the week to Sept. 24, adding 36,182 lots for a total net long of 31,933, data showed.
* Rabobank said market participants are still digesting the damage done to production after the fires in top producer Brazil, and remain concerned about the severe drought there.
* LSEG forecasters expect widespread warm, dry weather to persist through the week and beyond, with potential rains appearing late October at best.
* The total 2025 sugar import tariff quota for China, one the world's top sugar consumers, has been set at 1.95 million metric tons, the commerce ministry said.
* Analyst Green Pool cut its Brazil sugar forecast for the current season to 39.1 million tonnes.
* December white sugar LSUc1 fell 0.7% to $572 a metric ton.
COFFEE
* December arabica coffee KCc1 fell 0.8% to $2.6700 per lb, heading further away from last week's 13-year high.
* Speculators trimmed their net long position in arabica coffee in the week to Sept. 24 by 1,982 lots to 41,649, data showed.
* Arabica traders are digesting news of dry weather in Brazil as the crop enters the flowering phase, a critical juncture.
* November robusta coffee LRCc1 fell 0.4% at $5,180 a ton.
COCOA
* December New York cocoa CCc1 fell 5.7% to $7,808 a ton, having gained 8% last week.
* Favourable weather in top grower Ivory Coast is improving the main crop outlook and is helping keep a lid on cocoa prices, for now.
* Cocoa trade is extremely volatile also, due to very low open interest.
* Broker JP Morgan hiked its price target for snack food giant Mondelez MDLZ.O, but noted the firm is cautious on cost of goods inflation next year as it believes even if cocoa prices drop, they will remain very inflated overall.
* March London cocoa LCCc2 fell 3.9% to 4,560 pounds per ton.
Reporting by Maytaal Angel; Editing by Vijay Kishore
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