Comments
New York cocoa futures rose on Tuesday to the highest level in more than one month, boosted by a weaker dollar and concerns that dry weather could curtail production in Ivory Coast in the upcoming 2015/16 season.
December New York cocoa was up $44 at $3,212 a tonne.
There are concerns that Ivory Coast could see a significant fall in its 2015/16 main crop with dry weather hampering crop development in the world’s top cocoa grower.
London cocoa futures, which had risen on Monday when the New York contract was closed for the Labor Day holiday, fell back slightly with December off £5 at £2,166 a tonne.
December arabica coffee was up 1.1 per cent at $1.2045/lb. November robusta coffee futures was up $15 at $1,596 a tonne.
Dealers said the focus on robusta was increasingly on the upcoming harvest in top producer Vietnam which should start next month and is expected to peak from late November.
October raw sugar was off a marginal 0.1 per cent at 11.26 cents a lb. October white sugar, which expires next week, was up 0.2 per cent at $348.70 a tonne.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.