World: Cocoa futures rise more than 5%, coffee prices fall

Published 2024년 10월 30일

Tridge summary

Cocoa futures saw a significant increase on Tuesday, with the March London cocoa contract rising 6.8 percent to 5,332 pounds a tonne, and the December New York cocoa contract increasing by 5.1 percent to $7,267 a tonne. This surge is attributed to rising nearby premiums due to anticipated near-term supply shortages. In contrast, January robusta coffee prices fell by 2.3 percent to $4,398 a tonne, despite the upcoming harvest in Vietnam, as the recent price drop removed incentive for early starting. December arabica coffee prices decreased by 1.7 percent to $2,481 a pound due to uncertainties about fruit loading caused by drought. March raw sugar prices rose by 0.5 percent to 22.08 cents per lb, while December white sugar prices increased by 0.7 percent to $564.20 a tonne.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Cocoa futures rose sharply on Tuesday, extending a rebound from multi-month lows, driven by rising nearby premiums on expectations of near-term supply shortages. COCOA * The March London cocoa contract rose 340 pounds, or 6.8 percent, to settle at 5,332 pounds a tonne. * December New York cocoa rose 5.1 percent to $7,267 a tonne, extending the market’s recovery from an eight-month low of $6,426 hit on Friday. * Dealers said the market was supported by renewed strength in the December-to-March premium, which rose to around 500 pounds, highlighting near-term supply shortages. * Cocoa arrivals at ports in top producer Ivory Coast reached 285,000 tonnes through Oct. 27 since the season began on Oct. 1, up 26% from the same period last season, exporters estimated on Monday. COFFEE * January robusta coffee closed down $104, or 2.3%, at $4,398 a tonne. * Traders said the harvest in top robusta producer Vietnam was expected to start gathering pace next month, with the recent drop in ...

Source: Mercado Do Cacau