Sugar posts 4th annual gain; coffee down more than 20% in 2022 – Financial Post

Author of the article:
NEW YORK/LONDON — Sugar futures on ICE exchange closed down on Friday, in the last trading day of 2022, but they posted the fourth consecutive annual gain for both raws and whites.

Coffee futures were also down in the day, adding to the cumulative annual loss for both arabica and robusta.

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
A welcome email is on its way. If you don’t see it, please check your junk folder.
The next issue of Financial Post Top Stories will soon be in your inbox.
We encountered an issue signing you up. Please try again

* March raw sugar ​​settled down 0.25 cent, or 1.2%, at 20.04 cents per lb​​.

* Raw sugar prices ended with an annual gain of 6.1% supported by supply tightness that is expected to continue through the first quarter of 2023.

* Raw sugar futures posted gains in the last four years, for a total price rise of 55%.

* March white sugar slipped $7.40, or 1.3%, to $554.40 a tonne.

* White sugar prices posted an annual gain of 11.5%, also the fourth consecutive year of gains for the product, which accumulated a 54.8% price increase over that period.

* “My take on the main reason for the (sugar) rally over the last four years, on a general basis, other than this year’s Ukraine conflict, is weather. More specifically, extreme weather,” said a U.S.-based trader.


* March arabica coffee fell 2.75 cents on Friday, or 1.6%, at $1.673 per lb​​.

* Arabica coffee prices posted an annual loss of 26% weighed by concerns a global economic downturn will curb demand, a generally favorable outlook for next year’s crop in top producer Brazil and rising exchange stocks.

* Arabica prices had risen 76% in 2021 after frosts in Brazil cut production.

* Dealers noted ICE certified coffee stocks stood at a 5-1/2 month high of 814,686 bags, as of Dec. 30. There were 235,963 bags pending grading.

* March robusta coffee fell $25, or 1.4%, to $1,799 a tonne.

* Robusta coffee prices fell 24% in 2022.


* March London cocoa rose 18 pounds, or 0.9%, to 2,062 pounds per tonne​.

* London cocoa prices rose 21% in the year, boosted partly by a decline in the value of the pound versus the dollar during 2022.

* March New York cocoa rose $22, or 0.9%, to $2,600 a tonne.

* New York cocoa prices had an annual gain of 3%, after a 3% loss in 2021. (Reporting by Marcelo Teixeira and Nigel Hunt; Editing by Emelia Sithole-Matarise, Kirsten Donovan and Shailesh Kuber)

LONDON — Raw sugar futures on ICE eased on Friday in the final session of 2022 although the market was on track for a fourth consecutive annual gain, buoyed by tight supplies of the sweetener.
LONDON — Raw sugar futures on ICE eased on Friday in the final session of 2022 although the market was on track for a fourth consecutive annual gain, buoyed by tight supplies of the sweetener.
LONDON — Raw sugar futures on ICE edged higher on Wednesday, though prices remained well below last week’s muli-year high, while arabica coffee prices also rose.
LONDON — Raw sugar futures on ICE were lower on Wednesday, extending the market’s retreat from last week’s near six-year high, while arabica coffee prices edged higher.
NEW YORK/LONDON — Raw sugar futures on ICE fell on Wednesday, with prices remaining well below last week’s multi-year highs, while arabica coffee prices rose sharply.
Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.
365 Bloor Street East, Toronto, Ontario, M4W 3L4
© 2022 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.
This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Service and Privacy Policy.


Leave a Comment