LONDON: Raw sugar futures on ICE rose on Friday, climbing back up towards a 19-month peak set earlier this week, while cocoa and arabica coffee prices were slightly lower.
SUGAR
Raw sugar rose 1.2 percent to 20.39 cents per lb by 1211 GMT. The market had set a 19-month high of 21.24 cents earlier in the week. The market was on track for a weekly gain of 2.3 percent.
Dealers said the El Nino weather event had helped propel prices higher.
“There is little doubt that this climate event, at an exceptional intensity this season, is hitting yields hard across the world: waterlogged cane in Brazil, drought-hit beet in Europe, stalled planting in western India,” Deepcore, a physical sugar broker, said in a note. White sugar gained 0.7 percent to USD545 a metric ton.
COCOA
London cocoa fell 0.2 percent to £4,225 per ton with the market on course for a small weekly loss of 0.3 percent. Dealers said the market continued to be weighed by the large global surplus in the 2025/26 season.
They noted third-quarter grind data next week should provide a short-term focus with Europe and North American reports due to be issued on October 15. New York cocoa lost 0.6 percent to USD5,632 a ton.
COFFEE
Arabica coffee fell a marginal 0.03 percent to USD2.8895 per lb. Dealers said the strong pace of exports from top producer Brazil was keeping a lid on prices despite concerns that the El Nino weather event will curb global output in the 2027/28 season. Robusta coffee gained 0.7 percent to USD3,448 a ton.
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