Updates prices
LONDON, Dec 31 (Reuters) – Robusta coffee futures on ICE were marginally lower on Friday, slipping back from the previous session’s 10-year peak, while sugar prices edged higher.
COFFEE
* March robusta coffee LRCc2 fell 0.1% to $2,370 a tonne by 1453 GMT. The benchmark second position climbed to a 10-year high of $2,384 on Thursday.
* Dealers said supply chain issues had disrupted shipments from top robusta producer Vietnam while the market had also been supported this year by the strength of arabica prices.
* Robusta coffee prices are on track to end the year up about 71%.
* March arabica coffee KCc1 fell 1.2% to $2.2615 per lb.
* Arabica coffee prices are on track to end the year with an annual gain of about 76% with drought and frost in top producer Brazil earlier this year helping fuel gains.
SUGAR
* March raw sugar SBc1 rose 0.2% to 18.82 cents per lb.
* Dealers said the market had been boosted this year by declining stocks with a global deficit in the 2020/21 season (October/September) generally expected to be followed by another deficit in the current 2021/22 season. SUG/POLL
* Raw sugar prices are on track to end the year with an annual gain of about 21%.
* March white sugar LSUc1 rose 0.3% to $496 a tonne.
* White sugar prices are on track to end the year with an annual gain of about 18%.
COCOA
* March New York cocoa CCc1 was down 0.7% at $2,540 a tonne.
* New York cocoa prices are on track to end the year with an annual loss of about 2%.
* Dealers said the cocoa market had struggled to keep pace with many other agricultural markets this year with favourable crop conditions in West Africa helping to generate a large global surplus in the 2020/21 (October/September) season.
* March London cocoa LCCc1 was unchanged at 1,710 pounds a tonne.
* London cocoa prices are on track to end the year with an annual loss of about 2%.
(Reporting by Nigel Hunt; Editing by Jason Neely and Jan Harvey)
(([email protected]; +44 (0) 7990 561421; Reuters Messaging: [email protected] ))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
www.nasdaq.com