NEWYORK: Speculators sharply reduced their short position in futures of raw sugar on ICE US in the week to Jan. 23, while raising their bullish bets in arabica coffee, the Commodity Futures Trading Commission (CFTC) said on Friday.

Speculators cut 8,382 lots from their net short position in raw sugar to 2,227 contracts. They added 4,113 contracts to their net long position in arabica coffee to 33,365 lots.

Funds’ long position in New York cocoa rose by 5,030 lots to 51,064 contracts. For speculators’ positions on.