NEW YORK: Arabica coffee futures rose slightly on Friday on ICE but posted a 3% weekly loss, while raw sugar prices fell to a two-week low.
COFFEE
Arabica coffee settled up 1.15 cent, or 0.3%, at $3.7995 per lb?. Dealers said showers in Brazil coffee areas could aid cherry growth although more rain is needed. There are also concerns that demand may be weakening as retail prices climb.
“We expect tight stock levels in Brazil to continue bolstering coffee prices throughout 2025, while flagging that the potential impact of high prices on demand is a downside risk for prices,” analyst BMI said in a weekly update. Arabica certified stocks could increase in coming days as around 50,000 bags showed up at the exchange to be graded. Robusta coffee was little changed at $5,354 a metric ton.
SUGAR
Raw sugar settled down 0.13 cents, or 0.7%, at 18.96 cents per lb, after hitting a two-week low of 18.91 cents.
The contract posted a weekly loss of 3.8%. Dealers noted the pace of sugar cane crushing in Center-South Brazil in the first half of March was stronger than expected, albeit lower than the same period a year ago. They also noted that more mills were expected to start crushing in the second half of March, helping to lessen concerns about a potential poor start to the 2025/26 season.
Sugar cane crushing in Brazil’s center-south region in the first half of March fell 18% to 1.83 million tons from a year earlier, while sugar production was down 19%. White sugar fell 0.4% at $535.70 a ton.
COCOA
New York cocoa settled up $63, or 0.8%, to $8,042 a ton. It had a weekly gain of 4%. Dealers said the market continued to derive support from an expected drop in the size of the mid-crop in top producer Ivory Coast. Some analysts believe that alternatives to cocoa products could do better than similar projects such as plant-based meat. London cocoa rose 1.5% to 6,259 pounds per ton, having gained 3% in the week.
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