Coffee rises most in a week in London
Friday, 9 July 2010
LONDON, July 8 (Bloomberg): Robusta coffee rose the most in a week in London on speculation that roasters bought more of the beans used in espresso and blends.
Robusta for September delivery, the most actively traded contract, added as much as 1.7 per cent, the biggest gain since July 1, to $1,697 a metric tonne on the Liffe exchange. The contract was up $12, or 0.7 per cent, at $1,681 at 10:10 am local time.
Arabica futures for September delivery fell 0.4 per cent to $1.6245 a pound on ICE Futures US in New York. Prices of the milder variety, preferred for specialty beverages such as those made by coffee chain Starbucks Corp, climbed to a 12-year high last month.
World coffee exports fell to 7.97 million bags in May from 8.34 million bags a year earlier, the London-based International Coffee Organisation said last month.
White, or refined, sugar for October delivery advanced $2.40, or 0.5 per cent, to $514.30 a tonne on Liffe. Cocoa for September delivery gained 3 pounds, or 0.1 per cent, to 2,406 pounds ($3,645) a tonne.
Robusta for September delivery, the most actively traded contract, added as much as 1.7 per cent, the biggest gain since July 1, to $1,697 a metric tonne on the Liffe exchange. The contract was up $12, or 0.7 per cent, at $1,681 at 10:10 am local time.
Arabica futures for September delivery fell 0.4 per cent to $1.6245 a pound on ICE Futures US in New York. Prices of the milder variety, preferred for specialty beverages such as those made by coffee chain Starbucks Corp, climbed to a 12-year high last month.
World coffee exports fell to 7.97 million bags in May from 8.34 million bags a year earlier, the London-based International Coffee Organisation said last month.
White, or refined, sugar for October delivery advanced $2.40, or 0.5 per cent, to $514.30 a tonne on Liffe. Cocoa for September delivery gained 3 pounds, or 0.1 per cent, to 2,406 pounds ($3,645) a tonne.