Adds comment, updates prices
LONDON, Dec 23 (Reuters) – Robusta coffee futures on ICE rose to their highest in over a decade on Thursday, as the flow of supplies continued to be disrupted by supply chain issues, including a shortage of container shipping capacity.
COFFEE
* March robusta coffee LRCc2 rose 0.9% to $2,361 a tonne by 1439 GMT after peaking at $2,381 – the highest level for the benchmark for a second month since August 2011.
* Dealers said the market continued to be supported by strong demand for exchange stocks, as supply chain issues dent flows from top robusta producer Vietnam.
* Valid ICE exchange stocks stood at 99,190 tonnes, as of Dec. 22, down from 109,040 tonnes a month earlier.
* Front-month January LRC-1=R was trading at a premium of around $105 to March.
* The harvest in Vietnam, however, continued to make good progress and is now more than 60% complete, the dealers added.
* Vietnamese farmers have been ramping up their harvest of coffee beans in the Central Highlands, the country’s largest coffee-growing area, to take advantage of supportive weather, according to traders.
* March arabica coffee KCc1 rose 0.3% to $2.3420 per lb.
SUGAR
* March raw sugar SBc1 was 0.2% higher at 19.29 cents per lb boosted partly by revived risk appetite across markets on hopes that the Omicron coronavirus variant may be less severe than feared. MKTS/GLOB.
* Dealers said some traders were squaring positions ahead of the upcoming holiday.
* New York-based raw sugar futures markets are shut on Friday and open later than normal at 1230 GMT on Monday, while London-based white sugar futures will be shut until Tuesday.
* March white sugar LSUc1 rose 0.4% to $505 a tonne.
COCOA
* March London cocoa LCCc1 rose 0.1% to 1,684 pounds a tonne.
* March New York cocoa CCc1 was up 1% at $2,491 a tonne.
(Reporting by Nigel Hunt; editing by Uttaresh.V)
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