LONDON: Arabica coffee futures on ICE rose on Wednesday, extending the recent run-up, boosted by the threat that the United States may impose punitive tariffs on Colombia, while London cocoa prices surged to a three-week peak.
COFFEE
Arabica coffee was up 1.4% at $4.1940 per lb by 1147 GMT after peaking at a five-week high of $4.27.
Dealers were keeping a close watch on escalating tensions between the United States and Colombia, the world’s third-largest coffee producer.
The imposition of punitive tariffs on Colombia would put further pressure on U.S. roasters who already face a 50% tariff on imports from top exporter Brazil.
Dealers noted that ICE certified stocks stood at 468,410 bags, as of October 21, unchanged from a day earlier with a brief pause in a prolonged decline. A month earlier they stood at 643,341 bags.
Robusta coffee gained 1.9% to $4,660 a metric ton.
COCOA
London cocoa was up 5.9% at 4,448 pounds per ton after setting a three-week high of 4,469 pounds.
Dealers said the market was supported by a slow start to the main crop season in top grower Ivory Coast and concern about the poor quality of some of the cocoa which has arrived at ports.
New York cocoa rose 4.5% to $6,183 a ton.
Ghana’s cocoa production in the 2025/26 season that started this month is likely to surpass the initial government projection of 650,000 metric tons due to good weather and crop renovation work, according to the country’s agriculture minister.
Arabica coffee climbs as tensions between the U.S. and Colombia heat up
SUGAR
Raw sugar gained 0.5% to 15.32 cents per lb.
White sugar rose 0.95% to $437.50 a ton.
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