New York Futures: Arabica Coffee Futures tumble 6%, Robusta Coffee hits a six-week low

New YORK (Reuters)-Arabica coffee futures tumbled 6 percent on Friday, the biggest one-day drop in nearly four years, as traders locked in profits after a big rally the day before yesterday. Brazilian suppliers cut the country's coffee bean production forecast on Thursday, pushing Arabica coffee futures higher on the day.

Robusta coffee futures fell to a six-week low. ICE raw sugar futures fell as the market took a respite after rising 7% earlier this week. Cocoa futures climbed, recording the biggest weekly gain since January.

ICE- July Arabica coffee futures closed down 11.75 cents, or 6%, at $1.8505 a pound, the biggest one-day percentage drop since august 2010.

Liffe- July robusta coffee futures tumbled $92, or 4.3 per cent, to close at $2046 a tonne, the lowest close since April 3, when certified stocks of robusta coffee more than doubled from two weeks ago to 3.354 tonnes.

ICE- July raw sugar futures closed down 29 cents, or 1.6%, at 17.91 cents a pound, up 4.1% this week, the biggest weekly gain since the end of March.

Liffe- august sugar futures closed down $4.90, or 1%, at $488.50 a tonne.

Liffe- July cocoa futures climbed 5 pounds, or 0.3 percent, to close at 1825 pounds a tonne. ICE- July cocoa futures closed up $10, or 0.3%, at $2917 a tonne, up 2.2% this week, the biggest weekly gain since the end of January.