LONDON: Raw sugar futures on ICE rose to the highest level in nearly four years on Friday, buoyed by tightening supplies, while arabica coffee slipped back from an earlier one-month peak.
March raw sugar rose by 0.33 cent, or 1.9%, to 17.84 cents per lb by 1440 GMT after peaking at 17.96 cents, the highest for the front month since March 2017.
Dealers said talk that Brazil’s harvest may start a bit later than normal had added to concerns about tight supplies while there had also been delays to Indian exports driven partly by a shortage of containers and reduced availability from Thailand due to a poor crop this year.
May white sugar rose by $7.40, or 1.9%, to $482 per tonne.
May arabica coffee fell by 0.2 cent, or 0.15%, to $1.2910 per lb after reaching a one-month peak of $1.3035.
May robusta coffee was down $2, or 0.1%, at $1,378 a tonne. May London cocoa rose 21 pounds, or 1.3%, to 1,654 pounds a tonne after earlier dipping to 1,630 pounds, its weakest in more than one month. May New York cocoa rose $37, or 1.55%, to $2,428 a tonne.