Raw sugar touches minimum of seven years with fear about demand in China

The futures of raw sugar fell to a minimum of seven years on Monday, while the Arabica coffee fell to the lowest level in a year and a half, with con loan credit insurance cerns about the slowing Chinese economy which led to a large fall in markets commodities.

Traders said the real's weakness was also a pressure key factor in the sugar and coffee, which have Brazil as a major producer, since the devaluation of the local currency makes the most attrac loan credit insurance tive sales for producers.

"Today is a says bad for the markets in general, with such news from China and the fear rocking the stock market," said Hamish Smith, an analyst at Capital Economics.

The dollar against the Brazilian real rose on Mon loan credit insurance day to their highest level since March 2003.

Raw sugar on the stock exchange ICE retreated 1.8% at 11:10 (Eastern Time), to 10.25 cents a pound, after touching a low of seven years to 10.13 cents.

The Arabica December contract fell 3% in the same time, to US $ 1.2265 per lb, after touching $ 1.21, the lowest level for a second contract since January 2014.

Written by Sergio

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