LONDON: Arabica coffee futures on ICE rose on Wednesday, buoyed by harvest delays in top grower Brazil and a further decline in exchange stocks, while sugar and cocoa prices also gained.
COFFEE
ICE arabica coffee was up 0.6percent at USD3.4145 per lb by 1210 GMT. The market rose by 4.6percent on Tuesday. Dealers said the recent upward move was driven by short-term supply tightness that had led to a steady decline in exchange stocks to their lowest since February 8, 2024.
They noted recent rains in Brazil had slowed the harvest, heightening concern over a lack of available supplies. Cooxupe, Brazil’s largest coffee co-operative, said on Wednesday that its farmers had harvested 58.3percent of their 2026 crop as of July 24, up from 47.3percent the previous week but lagging the 67.1percent recorded a year earlier. ICE certified stocks stood at 289,759 bags as of July 28, down from 328,759 bags the previous week and sharply below the 800,326 bags by the same stage last year.
Robusta coffee lost 1.4percent to USD3,804 a metric ton.
SUGAR
Raw sugar was up 0.7percent at 14.65 cents per lb, boosted partly by rising energy prices. A global sugar deficit forecast for the 2026/27 season will be larger than previously expected, with rains slowing the cane crush in Centre-South Brazil and hot, dry weather curbing output in parts of Europe, analyst Green Pool said on Wednesday. White sugar rose 0.1percent to USD457.20 a ton.
COCOA
ICE London cocoa gained 2.5percent to £4,000 a ton, rebounding from the previous session’s three-week low of £3,758.
Dealers said a clearer picture on the outlook for 2026/27 harvests in West Africa could emerge in August and would help to determine the market’s next move. New York cocoa rose 2.25percent to USD5,318 a ton.
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