LONDON: New York cocoa futures climbed to a five-week peak on Thursday, buoyed primarily by speculative buying partly linked to its inclusion in the Bloomberg Commodity Index (BCOM) for 2026.
COCOA: New York cocoa was up 1.7 percent to USD6,336 a metric ton at 1450 GMT after hitting a five-week high of USD6,475.
Cocoa was removed from the BCOM in 2005 and its return is set to lead to a large volume of buying.
“ICE (New York) cocoa is set to encounter the most significant index rebalance buying by far at more than 27,000 contracts, or 22 percent of aggregate open interest, as of writing,” J.P. Morgan said in a preview of the BCOM rebalance.
The potential for a slowdown in port arrivals in Ivory Coast during the first quarter of 2026 could also support prices, although the upside continued to be curbed by weak demand.
London cocoa was up 0.45 percent to 4,512 pounds per ton after setting a five-week high of 4,625 pounds.
COFFEE: Robusta coffee rose 0.8 percent to USD4,171 a ton, edging away from a 2-1/2 month low of USD4,046 set on Wednesday.
Dealers said the harvest in top robusta producer Vietnam was slowly picking up after delays caused by storms and floods.
“New beans have started to hit the market but not many,” said a trader based in Vietnam’s coffee belt, adding that the quality of beans was not bad.
Arabica coffee gained 2 percent to USD3.7970 per lb.
SUGAR: Raw sugar ?was unchanged at 14.91 cents per lb.
Dealers said the market was underpinned by reports that Thai farmers may reduce cane plantings and switch to cassava in response to low prices. White sugar gained 0.05 percent to USD426.30 a ton.
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