Arabica coffee retreated for the third straight day on signs of sliding demand. Sugar fell, while cocoa rose.
Coffee inventories in warehouses monitored by ICE Futures U.S. in New York rose 1.2 percent in April, the first monthly gain since October 2008. Mild-bean prices offered by producing countries are the lowest in two or three years, according to Rodrigo Costa, vice-president of institutional sales at Newedge.
“We have witnessed a fall in demand,” Costa said by telephone from New York.
Arabica coffee for July delivery dropped 0.7 cent, or 0.2 percent, to settle at $2.8755 a pound at 2 p.m. on ICE Futures U.S. in New York. The most-active contract slid 4.1 percent this week.
In London, robusta coffee for July delivery rose $16, or 0.6 percent, to $2,598 a metric ton on NYSE Liffe.
Raw-sugar futures for July delivery retreated 0.39 cent, or 1.9 percent, to 20.47 cents a pound on ICE. The commodity dropped 8 percent this week. That marked a sixth straight decline, the longest streak of weekly losses since April 2010.
Cocoa futures for July delivery gained $27, or 0.9 percent, to $3,082 a metric ton in New York.
Also on NYSE Liffe, refined sugar dropped, while cocoa climbed.
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