LONDON: Arabica coffee futures on ICE were barely changed on Thursday with prices holding just below the prior session’s 2-1/2 month high while sugar prices eased.
Coffee
Arabica coffee futures were up a marginal 0.03% at $3.5355 per lb by 1056 GMT. The market rose to a 2-1/2 month high of $3.5780 on Wednesday.
The market has been supported by a drop in certified exchange stocks as roasters look to secure alternative supplies following the imposition of a 50% tariff on U.S. imports of Brazilian coffee.
Dealers noted, however, that exchange stocks stood at 736,099 bags, as of August 20, down 474 bags from a day earlier, although above a recent low of 726,661 bags set on August 14.
Robusta coffee fell 0.9% to $4,362 a metric ton.
Coffee prices in Vietnam continued to inch up this week due to a scarcity of beans, while heavy rainfall in Indonesia likely hurt the growth of coffee cherries, traders said on Thursday.
Arabica coffee slips after matching two-month high
Sugar
Raw sugar fell 0.9% to 16.42 cents per lb.
The lowest price offered in an international tender fromPakistan to buy 200,000 metric tons of sugar on Thursday was believed to be $560 a metric ton cost and freight included (c&f), European traders said in initial assessments.
White sugar lost 1.2% to $483.70 a ton.
Cocoa
New York cocoa rose 0.3% to $7,880 a ton with the market stabilising after falling by 3.9% on Wednesday.
Dealers said the market was keeping a close watch on U.S. tariff developments with talk that cocoa from Ecuador could be exempted from the 15% rate for the South American country.
London cocoa fell a marginal 0.02% to 5,458 pounds per ton.