Coffee futures climbed on Tuesday as tight supplies of higher-quality arabicas pushed the market toward recent peaks while robustas benefited from substitution. ICE cocoa edged up after the European Union barred vessels from new deals with ports in top grower Ivory Coast, while sugar also posted modest gains.
ICE March arabicas rose 1.4 cents or 0.6 percent to $2.36 per lb as of 1555 GMT, after hitting a 13-1/2-year high last week on strong demand and scarce supply from major producers like Brazil and Colombia. Cocoa futures on ICE also rose with May $5 or 0.2 percent higher at $3,046 a tonne at 1526 GMT after European Union sanctions on Ivory Coast, although gains were limited by continued strong cocoa flows, dealers said. ICE March raw sugar gained 0.25 cent or 0.8 percent at 31.14 cents a lb.
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