SOFTS-Raw sugar hits 2-month peak as Brazil currency strengthens

jueves 3 de marzo de 2016 11:21 GYT

* Sluggish demand stalls cocoa advance

* Stronger real likely to curb Brazil sugar supply (Adds comment, updates prices)

By Nigel Hunt

LONDON, March 3 (Reuters) - Raw sugar futures rose to a two-month high on Thursday and coffee also advanced boosted by the prospect of lower exports from major producer Brazil as a result of a strengthening in the country's currency.

"This makes it less attractive for Brazilian sugar exporters to sell sugar on the world market. At the same time, this could see more sugar cane being turned into ethanol, which is consumed mainly on the domestic market," Commerzbank said.

"On balance, this means less sugar supply from Brazil, the world's largest sugar producer and exporter," the bank said in a note on the market.

Brazil's real had been boosted this week partly by better-than-expected trade data.

May raw sugar was up 0.06 cent or 0.4 percent at 14.73 cents a lb by 1448 GMT after earlier climbing to a two-month high of 14.79 cents.

May white sugar rose $4.10 or 1.0 percent to $418.80 per tonne.   Continuación...