NEW YORK, May 25 (Reuters): Arabica coffee futures on ICE dipped to a one-month low on Friday, depressed by an improving outlook for the harvest in top producer Brazil, while cocoa prices fell sharply.
There will be no trading for arabica coffee, raw sugar and New York cocoa on Monday due to the Memorial Day holiday in the United States.
Arabica coffee was little changed at $3.61 per lb, after hitting a one-month low of $3.5525 earlier in the session. Arabica lost 4% weekly.
Dealers said the impact of poor weather on Brazil's arabica harvest, which is now under way, appeared to be less severe than some had expected.
Colombian coffee production will rise 18.1% to 15 million 60-kg bags in the 2024/25 season, despite rains that delayed the harvest, said GermanBahamon, head of the national coffee federation.
Peru's coffee crop was projected to grow 8 per cent in 2025/26 to 4.2 million bags, said the US Department of Agriculture.
Robusta coffee was little changed at $4,790 a metric ton.
COCOA
New York cocoa settled down $514, or 5 per cent, to $9,764 a ton. The contract had a weekly loss of 10%.
Dealers said the market remained extremely choppy, with prices rising by about 16 per cent last week.
They noted the market remained concerned aboutthe poor quality of the mid-crop harvest in top producer Ivory Coast with reports of beans being very small.
"The poor bean quality is said to be the result of the long drought in recent months, which could not be remedied by the recent rainfall," Commerzbank said in a note.
