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Arabica coffee futures on ICE fell to a two-month low on Thursday as ample supplies following a huge crop in Brazil in 2018 kept the market on the defensive while sugar and cocoa prices also weakened. May arabica coffee fell 1.40 cents, or 1.4 percent, to $1.00 per lb by 1515 GMT after setting a two-month low of 99.80 cents.

Colombia's coffee federation called urgently on Wednesday for the government to make structural changes to help coffee farmers in the face of low international prices. May robusta coffee fell $10, or 0.65 percent, to $1,534 a tonne.

Vietnamese farmers held back from selling coffee beans this week due to low prices after the harvest ended last month, while trading in Indonesia remained muted due to a lack of supply.

May raw sugar was down 0.03 cents, or 0.2 percent, at 13.35 cents per lb after peaking on Wednesday at a 3-1/2 month high of 13.42 cents.

Dealers said the market was consolidating after a recent run-up which has been fuelled by fund short covering against the backdrop of rising crude oil prices.

May white sugar was down $1.30, or 0.4 percent, at $358.70 a tonne.

Singapore-listed commodity trader Wilmar International Ltd reported on Thursday a more than 50 percent fall in fourth-quarter net profit from a year earlier, mainly due to a provision linked to sugar milling assets in Australia.

May New York cocoa fell $65, or 2.8 percent, to $2,252 a tonne.

Dealers said the recent run-up in prices had run out of steam and the focus had now returned to the prospect of a record crop in top grower Ivory Coast this year. May London cocoa was down 34 pounds, or 1.9 percent, at 1,716 pounds a tonne.

Copyright Reuters, 2019


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