LONDON, Nov 11 (Reuters) - ICE cocoa prices rose on Wednesday as Barry Callebaut, the world’s largest chocolate maker, gave an upbeat outlook in its full-year earnings report.
Raw sugar fell and coffee prices rose.
* March New York cocoa gained $30, or 1.3%, to $2,387 a tonne at 1206 GMT.
* Barry Callebaut said sales volumes recovered in the final quarter of its fiscal year to August, after slumping because of the COVID-19 pandemic. It added solid financials supported its confidence in its mid-term guidance.
* “The Barry Callebaut results went along the lines of recent results from Hershey and Mondelez. They were slightly better than expected in terms of consumption, despite Covid,” said a dealer.
* Barricades erected by opponents of Ivory Coast’s president in protest at last month’s disputed election have forced cocoa middlemen in western regions to reduce their purchases of beans, buyers said.
* March London cocoa rose 4 pounds, or 0.3%, to 1,616 pounds per tonne.
* March raw sugar fell 0.20 cents, or 1.4%, to 14.49 cents per lb, having hit an eight-month high of 15.23 cents last week.
* Dealers said sugar’s downside should be limited as funds are unlikely to liquidate a large percentage of their longs, though last week’s high is also out of reach for now.
* The sugar market awaits official Indian government comment on its sugar export policy, including the subsidy amount, which will determine how much the country is likely to export.
* December white sugar, which expires on Friday, fell $3.10, or 0.8%, to $395.80.
* A Syrian state agency has issued an international tender to purchase and import 85,000 tonnes of refined white sugar, European traders said.
* December arabica coffee rose 1 cent, or 0.9%, to $1.0830 per lb.
* January robusta coffee rose $10, or 0.7%, to $1,376 a tonne. (Editing by Barbara Lewis)
Our Standards: The Thomson Reuters Trust Principles.