LONDON: Raw sugar futures on ICE fell on Friday as investors shied away from risk in wider markets and speculation of an Indian export subsidy deal resurfaced, while London cocoa rallied as sterling sank on fears over a no-deal on post-Brexit trade.
March raw sugar fell 1.3% to 14.47 cents per lb at 1632 GMT, extending the prior session's 2% loss. World shares slipped and sterling skidded to its lowest in nearly a month as markets confronted the risk of Britain leaving the European Union without a trade deal.
March white sugar fell 1.3% to $396.50 a tonne. March London cocoa rose 2.5% to 1,770 pounds per tonne? as sterling skidded, making the sterling-priced futures contract cheaper for non-British investors. March New York cocoa rose 1.8% to $2,614 a tonne after dipping to its weakest since Nov. 18 on Thursday, underpinned by low ICE-certified stocks.
March arabica coffee rose 0.4% to $1.2150 per lb, having closed up more than 3% on Thursday as the Brazilian real surged. March robusta coffee slipped 0.3% to $1,355 a tonne.
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