Cocoa extended losses on Friday after US data showed its trade deficit narrowed much more than expected and caused the dollar to rise, and as fears over supplies from Ivory Coast eased despite a disputed election. Sugar and arabica coffee futures reversed earlier gains as the dollar strengthened. Sugar was underpinned by nagging uncertainties over how much of the sweetener India will export in 2010/11 to ease potential bottlenecks.
March cocoa futures on ICE extended losses to stand down $92 or 3 percent at $2,918 a tonne at 1524 GMT. ICE March raw sugar was down 0.42 cent or 1.5 percent at 28.29 cents a lb at 1527 GMT. ICE March arabicas were down 0.15 cent or 0.1 percent at $2.0440 per lb at 1529 GMT.
Comments
Comments are closed.