LONDON: New York cocoa futures climbed to the highest level in almost nine months on Friday, buoyed by low stocks and a recent large front-month premium, while arabica coffee prices retreated from the prior session's two-month peak.
March New York cocoa was up $73, or 2.7%, at $2,738 a tonne at 1425 GMT after rising to a peak of $2,739, the highest since late February. Dealers said certified stocks remained low at 198,117 60-kg bags, as of Nov. 19, compared with 310,446 bags at the same time a year earlier.
March London cocoa was up 40 pounds, or 2.2%, at 1,831 pounds a tonne. March arabica coffee fell 0.95 cents, or 0.8%, to $1.2225 per lb, retreating from the prior session's two-month high of $1.2440.
January robusta coffee rose $4, or 0.3%, to $1,395 a tonne. March raw sugar was down 0.09 cent, or 0.6%, at 15.19 cents per lb. The front month had peaked at 15.66 cents on Tuesday, its highest since mid-February. March white sugar fell $0.50, or 0.1%, at $414.20 a tonne.