Adds comment, updates prices
LONDON, Dec 30 (Reuters) – Robusta coffee futures were hovering just below a recent 10-year high on Thursday while raw sugar prices eased, weighed down by a firmer dollar and favourable weather in top producer Brazil.
COFFEE
* March robusta coffee LRCc2 rose 0.1% to $2,367 a tonne by 1428 GMT. The benchmark second position climbed to a 10-year high of $2,381 last week.
* Dealers said supply chain issues had disrupted shipments from top robusta producer Vietnam this year with exports expected to show a drop of 2.7%.
* “High shipping cost and a shortage of containers have hampered coffee shipments from Vietnam this year,” a trader based in Ho Chi Minh City said.
* Dealers noted that January’s premium to March LRC-1=R had been widening as traders holding short positions in the front month opted to cover rather than tender coffee. It was trading around $122 a tonne on Thursday.
* Only one lot, of Brazilian conillon coffee, had been tendered against the January contract as of Dec. 29.
* March arabica coffee KCc1 fell 0.6% to $2.2750 per lb.
SUGAR
* March raw sugar SBc1 was 1.3% lower at 18.85 cents per lb.
* Dealers said rains in Brazil continued to improve soil moisture levels in key growing regions and improve the outlook for next year’s cane crop.
* March white sugar LSUc1 fell 1.1% to $495.80 a tonne.
COCOA
* March London cocoa LCCc1 rose 0.6% to 1,709 pounds a tonne.
* March New York cocoa CCc1 was up 1% at $2,541 a tonne.
(Reporting by Nigel Hunt; Editing by David Clarke)
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