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Nov 10, 2022 • 10 minutes in the past • 2 minute learn •
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LONDON/NEW YORK — London cocoa futures slipped on Thursday after hitting greater than 2-1/2-year peaks earlier, boosted by a dock employees strike in Ivory Coast and rising tensions between the world’s prime cocoa producer and the chocolate trade.
Arabica espresso hit a recent 15-month low.
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COCOA
* March London cocoa settled down 20 kilos, or 1.0%, at 2,032 kilos per tonne, after peaking at 2,059 kilos – the very best since February 2020.
* Port arrivals in Ivory Coast have been working properly beneath final season’s tempo, because of a dock employees strike in San Pedro, one of many nation’s two principal ports.
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* Sellers mentioned Ivory Coast and Ghana’s ahead gross sales have in the meantime slowed significantly amid a pricing dispute with trade.
* March New York cocoa settled up $25, or 1.0%, at $2,555 a tonne, after touching $2,567, the very best since Could.
COFFEE
* March arabica espresso settled up 5.35 cents, or 3.3%, at $1.677 per lb, after sinking to a recent 15-month low of $1.6045.
* Brazilian espresso output will develop at the very least 8% subsequent 12 months, as plantations recuperate after a smaller-than-expected crop this 12 months, in accordance with Rabobank.
* Sellers mentioned a big influx of arabica espresso into ICE-approved warehouses remained a bearish affect.
* ICE licensed espresso shares stood at 441,899 luggage, as of Nov. 9, climbing farther from a current 23-year low. There have been 266,146 luggage pending grading.
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* January robusta espresso settled up $8, or 0.4%, at $1,827 a tonne, after dipping to $1,788, the bottom since August 2021.
* Provides of espresso in prime robusta producer Vietnam constructed up this week as farmers began to select beans amid weak demand, merchants mentioned.
SUGAR
* March uncooked sugar settled up 0.03 cents, or 0.2%, at 19.41 cents per lb, after matching a 3-1/2-month peak of 19.43 cents from Wednesday.
* Brazilian trade group Unica mentioned Brazil’s center-south area produced 2.11 million tonnes of sugar within the second half of October.
* S&P World Commodity Insights forecast the area would produce simply 1.88 million tonnes.
* December white sugar settled up $11.60, or 2.1%, at $555.10 a tonne. (Reporting by Maytaal Angel and Stephanie Kelly; Modifying by Elaine Hardcastle, Jonathan Oatis and Richard Chang)
