Updates prices

LONDON, Dec 29 (Reuters)Robusta coffee futures on ICE fell on Thursday, pressured partly by an expected pick-up in producer sales in coming weeks, while raw sugar prices regained some ground after falling earlier this week.


* March robusta coffee LRCc2 fell 1.9% to $1,833 a tonne by 1449 GMT.

* Dealers noted that an expected pick-up in sales by farmers in top robusta producer Vietnam, where the harvest has entered its final stages, was helping keep a lid on prices.

* “Farmers have harvested around 85% of the 2022-23 crop, and they are expected to increase their sales over the coming weeks to have cash for the upcoming Lunar New Year holiday,” a trader based in Dak Lak province said.

* The Lunar New Year holiday, also known as Tet, is on Jan. 22, 2023.

* Coffee exports from Vietnam are estimated to have increased 10.1% in 2022 from a year earlier to 1.72 million tonnes, equal to 28.7 million 60kg bags, the General Statistics Office said on Thursday.

* March arabica coffee KCc1 fell 1.8% to $1.7045 per lb, slipping back from the prior session’s seven-week high of $1.7495.

* Dealers noted ICE certified coffee stocks stood at 797,775 bags, as of Dec. 28, the highest level for more than five months. There were 257,153 bags pending grading.


* March raw sugar SBc1 rose 1.2% to 20.40 cents per lb.

* Dealers noted the market had fallen sharply after setting a near six-year high of 21.18 cents last week but trade buying around 20.10 to 20.20 cents had helped to halt the decline.

* The market also continued to be underpinned by supply tightness, which is expected to persist through the first quarter of 2023, and concern about low yields in the major sugar producing Indian state of Maharashtra.

* March white sugar LSUc1 rose 1.6% to $564.60 a tonne.


* March London cocoa LCCc1 fell 1.7% to 2,037 pounds a tonne.

* March New York cocoa CCc1 fell 1.95% to $2,570 a tonne.

(Reporting by Nigel Hunt; Editing by Angus MacSwan and Devika Syamnath)

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

Source: Nasdaq


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