INSUBCONTINENT EXCLUSIVE:
The cocoa market witnessed a significant upturn as futures prices in New York reached a seven-month peak
This marks the fifth consecutive week of gains, driven by growing supply worries
at $11,821 per metric ton, up $521 or 4.6%
This surge brings the contract close to its all-time high of $12,261, set in April
cocoa arrivals at Ivory Coast ports
However, this news failed to dampen the upward price trend.StoneX, a prominent brokerage firm, highlighted severe liquidity issues in
They reported delayed payments and a scarcity of new purchase agreements
These factors contribute to the overall market tightness.Cocoa Prices Soar to Seven-Month High Amid Supply Concerns
(Photo Internet reproduction)Meanwhile, the coffee market also experienced notable movements
Arabica coffee futures on ICE rose by 7.9 cents, or 2.5%, to $3.274 per pound
This indicates that farmers are financially secure and may not rush to sell more
Robusta coffee also saw a modest 0.4% increase, reaching $5,203 per ton.Cocoa Prices Soar to Seven-Month High Amid Supply ConcernsExperts
anticipate Brazilian robusta exports in 2025 to match the strong performance of 2024
This development positions Brazil as a viable alternative to Vietnamese robusta in the global market.In contrast, raw sugar futures
Prices fell by 0.04 cents, or 0.2%, to 20.68 cents per pound
This decline follows a 5% drop in the previous week, with prices touching a three-month low of 20.43 cents.Market analysts at McDougall
Global View Sugar Report provided insights on the sugar market
They noted an upward adjustment in Brazilian crop estimates
However, they cautioned that low stocks leave the market vulnerable to price spikes.The sugar market remains sensitive to potential
weather-related production issues in India, Thailand, or Brazil
Any significant disruptions in these key producing regions could trigger rapid price increases in the coming months.
