LONDON, Jan 21 (Reuters)Cocoa futures on ICE were lower on Friday, weakened partly by an unexpected decline in the fourth-quarter North American grind, while sugar and coffee prices also fell

COCOA

* March London cocoa LCCc1 fell 0.6% to 1,747 pounds a tonne by 1258 GMT.

* North American cocoa grindings unexpectedly fell in the fourth quarter of 2021 to 116,613 tonnes, down 1.2% from the same period a year earlier, according to data from the National Confectioners Association.

* Dealers noted there continued to be an overall upward trend in grindings, despite the North American data, with the European and Asian fourth-quarter grinds both rising by 6.3% year on year.

* Fitch Solutions, in a report on Friday, said it expected a higher average price for cocoa of 1,775 pounds in 2022, with more international travel helping to boost demand for chocolate.

* March New York cocoa CCc1 fell 0.9% to $2,635 a tonne.

SUGAR

* March raw sugar SBc1 fell 0.5% to 18.84 cents per lb, pressured by weakness in crude oil and many other commodity markets. O/RMET/LGRA/

* Dealers said broad-based weakness in financial markets had prompted some investors to take profit after the March contract climbed to a three-week high of 19.29 cents on Thursday.

* March white sugar LSUc1 fell 0.55% to $504.50 a tonne.

COFFEE

* March robusta coffee LRCc2 fell 1% to $2,204 a tonne.

* Dealers said recent weakness in robusta prices had led to a slowdown in farmer selling in top robusta producer Vietnam.

* March arabica coffee KCc1 was down 1.4% at $2.4020 per lb.

(Reporting by Nigel Hunt Editing by David Goodman )

((nigel.hunt@thomsonreuters.com; +44 (0) 7990 561421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net ))

Source: Nasdaq

LEAVE A REPLY

Please enter your comment!
Please enter your name here