Arabica coffee futures surged to close up 3 percent on Thursday, on fund buying and demand on the spot contract from recent supermarket orders. US cocoa futures finished quietly lower in spread-dominated dealings and as market participants waited out the turmoil in top grower Ivory Coast. Raw sugar also finished weak on heavy spread dealings.
The benchmark May raw sugar contract fell 0.21 cent to close at 26.50 cents per lb. May arabica coffee futures surged 7.65 cents or 2.9 percent to finish at $2.7280 per lb. Key July cocoa futures finished down $12 at $3,002 a tonne.