LONDON: Arabica coffee futures rose sharply on Friday, boosted by concerns about dry weather in top producer Brazil, while sugar and cocoa prices also advanced. Trade in US-based arabica coffee, raw sugar and New York cocoa contracts resumed after a holiday on Thursday. Trade in robusta coffee, white sugar and London cocoa had remained open.
March arabica coffee was up 5.8 cents, or 4.95% at $1.2295 per lb by 1522 GMT. The benchmark second position rose to a peak of $1.2440 last week, its highest since mid-September.
March robusta coffee fell $1, or 0.1%, to $1,410 a tonne. March raw sugar rose 0.17 cents, or 1.15%, to 14.94 cents per lb, regaining much of the ground lost on Wednesday. March white sugar rose $1.20, or 0.3%, to $405.30 a tonne. March New York cocoa was up $41, or 1.5%, at $2,765 a tonne. March London cocoa rose 10 pounds, or 0.5%, to 1,870 pounds a tonne.
Comments
Comments are closed.