ICE arabica coffee futures prices surged to a 13-1/2-year peak early on Tuesday, underpinned by tight supplies and a soft dollar, while cocoa held firm on concerns over supply risks from Ivory Coast after a disputed election. ICE raw sugar futures prices nudged up towards Monday's 30-year high, supported by adverse weather in key producers, limited exports from India, and low stocks.
ICE May arabicas were up 7.00 cent or 3.1 percent at $2.3310 per lb at 1555 GMT, having earlier touched a 13-1/2-year high of $2.3520 cents a lb ICE cocoa futures rose as prices continued to receive support from a political impasse in top producer Ivory Coast after the disputed November 28 election triggered concerns about potential disruptions to cocoa exports.
Second-month cocoa futures on ICE were up $1 or 0.03 percent to $2,977 per tonne in thin volume of 905 lots at 1545 GMT, within sight of the four-month peak of $3,140 hit earlier this month. ICE March raw sugar was up 0.21 cent or 0.6 percent at 33.17 cents a lb at 1547 GMT.