LONDON: Robusta coffee futures on ICE rose to a four-year high on Friday as a pick-up in demand and disruptions to exports from Vietnam helped to tighten supplies, while sugar prices eased.
November robusta coffee rose 0.2% to $2,111 a tonne by 1356 GMT after setting a four-year high of $2,136.
Dealers said there had been a pick-up in demand for robusta beans in recent weeks, driven partly by the high cost of arabica coffee, while there were ongoing disruptions to the flow of supplies from top robusta producer Vietnam related to the COVID-19 pandemic and a shortage of container freight capacity.
Disruptions to the flow of coffee from south-east Asia and the high cost of transporting the beans have boosted demand for exchange robusta stocks which stood at 131,270 tonnes, as of Thursday, down from 141,330 tonnes a month ago. December arabica coffee fell 1.1% to $1.8610 per lb.
October raw sugar was down 1.9% at 19.12 cents per lb.
Dealers said a stronger dollar and weaker energy prices had contributed to the setback in prices, though the market remained on track for a weekly gain of 1.8%. December white sugar fell 1.8% to $503.70 a tonne.
December New York cocoa rose 0.04% to $2,658 a tonne. Dealers said the market was underpinned by concerns that production may fall in Ghana during the upcoming 2021/22 season, which starts next month, helping to tighten global supplies. December London cocoa rose 0.3% to 1,822 pounds a tonne.