LONDON: New York cocoa futures were slightly lower on Friday as concerns over weak demand continued to weigh on prices while coffee and sugar prices also weakened.
COCOA
New York cocoa lost 0.3percent to USD6,049 a metric ton by 1201 GMT. Dealers said fourth-quarter grinding data should provide a focus this month, with European data scheduled to be issued on January 15.
There have been year-on-year declines in the past five quarters after a sharp rise in prices in 2024.
The market was also focused on New York cocoa’s addition to the Bloomberg Commodity Index in 2026, which is expected to lead to about 30,000 to 40,000 lots being bought this month. London cocoa lost 0.5percent to 4,357 pounds a ton.
COFFEE
Arabica coffee was down 0.3percent at USD3.4780 per lb.
Dealers said the market continued to be underpinned by low certified exchange stocks.
ICE certified arabica stocks stood at 453,155 bags on December 31, down from 979,967 bags a year earlier. ICE arabica coffee speculators cut a net long position by 5,129 contracts to 13,741 in the week to December 23, according to CFTC data issued late on Wednesday. Robusta coffee lost 1.5 percent to USD3,888 a ton.
SUGAR
Raw sugar fell 0.7 percent to 14.90 cents per lb as the prospect of a global surplus in the current 2025/26 season continued to keep a lid on prices.
Comments
Comments are closed for this article.