By Rudy Ruitenberg and Claudia Carpenter

March 9 (Bloomberg) -- Sugar futures fell to the lowest level in four months in London on concern that buyers are holding back as prices continue to retreat from two-decade highs.

Concern about import demand increased as a deadline for a Pakistani tender to buy the sweetener approached. The Asian nation, the region’s third-biggest sugar user, has said it would announce a decision on the tender today. Pakistan today delayed a plan to purchase sugar from Dubai on a deferred-payment basis.

“The market is focusing on negative news,” said Stephen Geldart, an analyst at sugar brokerage Czarnikow in London.

White, or refined, sugar for May delivery fell as much as $16.80, or 2.8 percent, to $573 a metric ton on NYSE Liffe, the lowest intraday price for the most-active contract since October. It was at $574 at 11:31 a.m. local time. Raw sugar for May delivery traded on ICE Futures U.S. in New York dropped 3.3 percent to 20.85 cents a pound.

Thailand, the second-largest exporter, may harvest a record sugar crop next year after farmers boosted planting in response to climbing global prices, the Thai Sugar Millers Corp. said yesterday.

Cocoa fell, while coffee gained, erasing a drop. “Supply outlooks beat expectations and buyers remained disciplined,” said Jonathan Feeney, a food and beverage analyst at Janney Capital Markets in Philadelphia, in a comment.

Cocoa for May delivery fell 7 pounds, or 0.3 percent, to 2,156 pounds ($3,224) a ton on NYSE Liffe.

Robusta coffee for May delivery rose 0.2 percent to $1,224 a ton, wiping out a slide of as much as 0.7 percent to $1,214 a ton, the lowest since the 10-ton contract started trading in January 2008. The coffee contract fell 0.8 percent yesterday on concern that rains in Brazil will boost supplies of the beans.

Last Updated: March 9, 2010 06:52 EST