LONDON: Cocoa futures on ICE were higher on Wednesday boosted by a pick-up in industry buying following a decline in prices to two-month lows earlier this week.
Cocoa
London cocoa rose by 0.3% to 4,931 pounds a metric ton by 1104 GMT after setting a two-month low of 4,874 pounds on Tuesday.
Dealers said industry buying had helped stem the recent decline in prices which was driven partly by origin hedge-selling ahead of the start of the 2025/26 season on Oct. 1.
The prospect of a further delay in the implementation of the EU’s anti-deforestation law has also contributed to this week’s decline in prices.
New York cocoa was up 1.6% at $7,140 a ton after hitting a two-month low of $6,896 on Tuesday.
Coffee
Arabica coffee rose by 1.4% to $3.4015 per lb as the market clawed back some of the prior session’s losses.
A meeting next week between U.S. President Donald Trump and Brazil’s president Luiz Inacio Lula da Silva will be closely watched with the possibility that a 50% U.S. tariff on Brazil coffee could be revised.
Robusta coffee gained 1.6% to $4,184 a ton.
Sugar
Raw sugar rose by 0.1% to 15.68 cents per lb.
Broker StoneX projected a global sugar surplus of 2.77 million tons for 2025/26, due to favorable crop prospects for Asian producers, including India and Thailand.
White sugar was down 0.1% at $462.40 a ton.