LONDON: Arabica coffee futures slipped on Friday and were on course for a weekly loss as the market retreated further from last week’s record high while cocoa prices also fell.
Coffee
Arabica coffee was down 0.2% at $3.8925 per lb by 1155 GMT, with the market on track to register a 4.5% weekly decline.
Dealers said coffee prices appeared to have lost some upward momentum after a record high of $4.2995 last week, with roasters now holding adequate stocks after strong purchases in recent weeks and speculators taking some profits.
Robusta coffee was down 0.04% at $5,653 a metric ton.
Arabica coffee rallies, raw sugar near two month high
Cocoa
New York cocoa futures fell 2.25% to $10,036 a ton, with the market poised for a weekly loss of 2.8%.
Dealers said a modest recovery in production in West Africa and weak demand had helped to create a more balanced market this season after a large global deficit in 2023/24.
London cocoa lost 2.3% to 7,836 pounds a ton.
Sugar
Raw sugar futures rose by a marginal 0.05% to 21.06 cents per lb after climbing to a two-month peak of 21.10 cents on Thursday.
Dealers said supplies appeared tight, with crop problems limiting exports from India.
The expiry of the March contract next Friday is set to provide a major focus over the next few days, with significant interest in taking delivery and some early estimate that the volume could be between 1.5 million and 2.0 million tons.
White sugar lost 0.2% to $554.30 a ton.
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