ICE arabica coffee and sugar futures surged on Monday as the dollar surrendered early gains against the euro, while cocoa rose in cautious, choppy trade with a focus on supply risks from Ivory Coast. The euro rose against the dollar on Monday, boosted by East European and Latin American demand, though traders said uncertainty about how authorities will handle the eurozone debt crisis could limit gains.
In arabica coffee, buyers piled in at 2.1260-2.13 cents a lb and dealers noted a lack of origin selling. ICE March arabicas were up 6.85 cent or 3.3 percent at $2.1645 per lb at 1626 GMT. ICE March raw sugar was up 0.91 cent or 3.1 percent at 30.04 cents a lb at 1628 GMT. March cocoa futures on ICE were up $22 or 0.8 percent at $2,909 a tonne at 1631 GMT.
Comments
Comments are closed.