Arabica coffee prices climb, boosted by tight supplies
- Dealers say supplies appear tight, partly owing to harvest delays in Brazil, with the front month's premium continuing to climb
LONDON: Arabica coffee futures on ICE rose on Thursday, boosted by supply tightness exacerbated by harvest delays in top grower Brazil, while cocoa prices retreated.
Coffee
ICE arabica coffee was up 3.3% at $3.3650 per lb by 0935 GMT.
Dealers said supplies appeared tight, partly owing to harvest delays in Brazil, with the front month’s premium continuing to climb.
They noted exchange stocks have fallen to their lowest since February 2, 2024.
ICE certified stocks stood at 274,168 bags on July 29, down from 320,615 bags a week earlier and sharply below the 791,842 bags by the same stage last year.
Robusta coffee gained 1.8% to $3,817 a metric ton.
Cocoa
ICE London cocoa fell 0.6% to £3,879 a ton.
Dealers said prices were comparatively stable at the moment as the market awaits clear indications on the extent to which production in West Africa will fall in the coming 2026/27 season.
They noted recent quarterly earnings reports from companies such as Lindt and Mondelez had helped to reinforce sentiment that demand for chocolate is beginning to recover.
New York cocoa lost 0.2% to $5,176 a ton.
Sugar
Raw sugar was down 0.1% at 14.48 cents per lb.
Dealers said short-term supplies of raw sugar appeared ample, limiting the scope for prices to rise.
White sugar fell 0.4% to $456.40 a ton.