SOFTS-Cocoa futures climb on tight supplies, coffee falls



Updates with settlement prices

LONDON, March 17 (Reuters)Cocoa futures on ICE rose on Friday, boosted by tight supplies in Ivory Coast, while coffee and sugar prices fell.


* May New York Cocoa CCc1 settled by $50, or 1.9%, to $2,738 per tonne.

* “We expect lingering concerns over tight supplies to continue to support prices, with reports of Ivorian exporters about to default on their contracts due to insufficient supplies of cocoa beans” , Fitch Solutions said in a note.

* May London Cocoa LCCc1 tuned 28 pounds, or 1.4 percent, to 2,102 pounds per ton.

* A total of 72,280 tonnes of cocoa was tendered for the ICE March London cocoa contract LCCH3 which expired on Thursday, according to exchange data.


* May arabica coffee KNc2 settled 3.45 cents, or 1.9%, at $1.766 a pound.

* Traders noted Arabica coffee stocks on the stock market were up again after their recent drop to a calendar year low.

* Certified arabica stocks at the Intercontinental Exchange stood at 788,915 60kg bags on March 16, the highest in more than two weeks.

* May robusta coffee LRCc2 was $40, or 1.9%, at $2,064 per tonne.


* Can raw sugar SBc1 was 0.09 cents, or 0.4%, at 20.67 cents per pound.

* Dealers said turmoil in the banking sector this week helped put the market on the defensive.

* Concerns about dwindling production prospects in the European Union and countries such as India, Thailand and China, however, continued to support the market.

* Indian mills have produced 28.2 million tonnes of sugar since the start of the current season on Oct. 1, down 1% year on year, the Indian Sugar Mills Association said on Friday.

* May white sugar LSUc1 settled down $0.50, or 0.1%, at $585.10 a tonne.

(Reporting by Shariq Khan and Nigel Hunt; Editing by David Goodman, Hugh Lawson and Shounak Dasgupta)

((; Twitter: @shariqrtrs))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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