LONDON: London cocoa futures touched their highest level in two months on Friday as a weak pound gave added impetus to the recent run-up in prices.
COCOA
December London cocoa rose 5 pounds, or 0.3 percent, to 1,584 pounds a tonne by 1240 GMT after peaking at 1,592 pounds, the highest since Aug. 8.
Dealers said the recent run-up had been driven partly by the view that any global surplus in the 2017/18 season may be smaller than previously anticipated.
Sterling's weakness also contributed to the rise in prices in London.
The British currency slipped to its lowest against the dollar in a month on Friday as it headed for its worst week in a year, amid mounting concerns over Theresa May's future as Britain's prime minister.
December New York cocoa fell $13, or 0.6 percent, to $2,071 a tonne.
SUGAR
December white sugar was up $0.30 or 0.1 percent at $377.90 a tonne, after rising to $380, the highest for the front month since Sept. 18.
The market was supported by concerns about tight nearby supplies with December's premium to March <LSUZ7-H8> climbing this week.
March raw sugar was off 0.04 cent, or 0.7 percent, at 14.29 cents per lb.
Dealers said the recent run-up in raws prices appeared to have stalled, partly due to producer selling.
COFFEE
December arabica coffee was up 1.40 cents, or 1.1 percent, at $1.2860 per lb.
Dealers said the market was beginning to rebound after dipping to a low of $1.2430 on Thursday, the weakest price for the front month since June 30.
The recent slide has been driven by much-needed rains in Brazil although there are still concerns that conditions remain too dry in some areas.
November robusta coffee rose $7, or 0.35 percent, to $2,007 a tonne with the market underpinned by anticipated supply tightness ahead of the Vietnamese harvest.
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