ICE cocoa futures are down 4% this week. Arabica coffee futures are lower.
New YORK / London (Reuters)-ICE cocoa futures fell on Friday, their lowest weekly decline since June 2013, on rising expectations of a glut. Arabica coffee futures fell as the industry raised expectations for the 2014 15-year harvest in Brazil, the largest grower.
ICE raw sugar futures hit a seven-month low with volume, with a large number of spot deliveries expected for October contracts that expire this month due to oversupply.
ICE- December cocoa futures hit a more than one-month low of $3094, closing down $30, or nearly 1 per cent, at $3102 a tonne.
The contract closed down 4% this week, extending last week's decline from a three-year high.
Liffe- December cocoa futures closed down 11 pounds, or 0.6 percent, at 1983 a tonne.
ICE- December Arabica coffee futures fell 4.4 cents, or 2.2%, to close at $1.9805 a pound after Volcafe slightly raised Brazil's 2014 / 15 coffee production forecast.
Liffe- November Robusta coffee futures closed down $12, or 0.6%, at $2079 a tonne.
Volcafe expects Vietnam to produce 28.5 million packs of robusta coffee in 2014 / 15, down from 30 million in the previous season.
ICE- October raw sugar futures fell 0.13 cents, or 0.9%, to close at a seven-month low of 15.00 cents, the sixth straight week of decline this week.
Liffe- October sugar futures closed down $1.70, or 0.4%, at $415.90 a tonne.
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Chengdu has opened more than 20 Korean coffee shops in the past two years. There is a big contradiction among the franchisees.
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Every morning, Hu Ding, a 34-year-old highway architect, drinks a cup of homemade espresso, a mellow taste as fascinating as good wine. Like many coffee lovers in China, Hu Ding's road to coffee begins with instant coffee, but since he tasted the rich taste of freshly ground coffee, his life is no longer without this rich and mellow taste.
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