LONDON: Arabica coffee futures on ICE rose on Tuesday, boosted partly by quality concerns and shipment delays in top producer Brazil, while raw sugar prices fell.
COFFEE
July arabica coffee rose 2.7% to $2.1235 per lb by 1144 GMT. Dealers said there were some quality concerns with the new harvest in Brazil partly related to small beans.
There have also been some delays at Brazil’s ports with a shortage of containers.
Colombia’s coffee production in 2024/25 is anticipated to reach 12.4 million bags, up from 12.2 million in the prior season, the U.S. Department of Agriculture said in a report.
July robusta coffee rose 2.7% to $3,592 a ton.
SUGAR
July raw sugar fell 0.5% to 18.58 cents per lb as the market’s rebound from last week’s 18-month low of 17.95 cents appeared to have run out of steam.
Dealers said the strong start to the cane harvest in Centre-South Brazil had put the market on the defensive although there remain concerns about dry weather in the world’s top sugar producing country.
August white sugar fell 0.9% to $546 a ton.
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