LONDON: London cocoa futures on ICE rose to a three-week peak on Friday, while robusta coffee prices were also higher, buoyed by concerns that El Nino weather conditions could dent production in the upcoming 2026/27 season. New York-based cocoa, raw sugar and arabica coffee markets were closed on Friday due to a public holiday in the United States.
COCOA
London cocoa rose 0.4percent to £3,211 a metric ton by 1135 GMT after setting a three-week high of £3,260. The market was on course for a weekly gain of 11.3percent supported by indications that 2026/27 main crops in West Africa may be significantly below this season, with El Nino weather conditions adding to concerns about crop prospects. Dealers said technical indicators were also supportive following the market’s recent rise.
“For now, the steady upward drift and supportive indicators point to an ongoing recovery, although the move remains controlled rather than impulsive,” broker Sucden Financial said in a note on Friday.
COFFEE
Robusta coffee was up 0.3percent to USD3,639 a ton with the market on track for a weekly gain of 3.2percent. Dealers said the market was supported by concerns that El Nino weather conditions could lead to dry weather in major robusta producers Vietnam and Indonesia, helping to tighten the global market in the 2026/27 season.
SUGAR
White sugar lost 1percent to USD440.80 a ton, with the market on track for a weekly loss of 0.85percent. Weaker energy prices have been the main driver behind this week’s modest decline in sugar prices. Dealers said, however, the downside may be limited with the price now below the cost of production in many countries, while an El Nino weather event could curb crop potential.
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