OREANDA-NEWS. February 03, 2015. Cocoa futures on ICE fell to their lowest level in more than one year on Monday, weighed down by weak demand and stronger-than-expected port arrivals in top grower Ivory Coast.

Raw sugar futures fell to the lowest in nearly four weeks with crops in top producer Brazil forecast to receive much needed rains while arabica coffee prices also eased.

Exporters on Monday estimated around 48,000 tonnes of cocoa beans were delivered to top grower Ivory Coast's two ports of Abidjan and San Pedro between Jan. 26 and Feb. 1, up from 30,000 tonnes during the same period last year.

For the season-to-date, cocoa arrivals reached around 1,093,000 tonnes by Feb. 1, virtually unchanged from 1,097,000 tonnes in the same period of the previous season.

"These rather positive deliveries and the very weak data on demand are weighing on cocoa prices at the moment," Commerzbank analyst Michaela Kuhl said, referring to recent weak fourth quarter grind data from Europe, North America and Asia.

ICE March New York cocoa was off \\$14 or 0.5 percent at \\$2,679 a tonne at 1404 GMT after earlier dipping to \\$2,677, its weakest level since January 2014.

Cocoa futures in London were also lower with May off 10 pounds or 0.5 percent at 1,871 pounds a tonne.

Sugar prices also fell on forecasts for rain in Brazil.

Hot, dry weather in Brazil during January raised concerns of another drought similar to the one in early 2014 but they have been allayed slightly by a wetter outlook.

March raw sugar on ICE was off 0.12 cents or 0.8 percent at 14.67 cents after earlier dipping to a low of 14.62 cents, its weakest level since Jan. 6.

The possibility that already ample supplies on the global market will be bolstered by exports from India has also added to the downward pressure on prices.

Abinash Verma, Director General of the Indian Sugar Mills Association told Reuters on Sunday he expected the government to issue a decision on export incentives this week.

"It is almost through so we expect and we pray it will happen this week," he said on the sidelines of the Kingsman Platts Dubai Sugar Conference.

March white sugar futures on ICE were off \\$1.40 or 0.4 percent at \\$382.00 per tonne.

Arabica coffee futures was also weighed down by forecasts for rain in Brazil with March off 1.25 cents or 0.8 percent at \\$1.6065 per lb. The front month fell to a low of \\$1.5870 on Thursday, its weakest level since July 11.

Robusta coffee futures were slightly lower with May off a marginal \\$2 at \\$1,952 a tonne.