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Updates prices
LONDON, Dec 30 (Reuters) – 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.
SUGAR
* March raw sugar SBc1 fell 0.4% to 20.20 cents per lb by 1442 GMT.
* Dealers noted the market continued to find support between 20.10 to 20.20 cents a lb.
* Raw sugar prices are on track for an annual gain of about 7% supported by supply tightness that is expected to continue through the first quarter of 2023.
* March white sugar LSUc1 slipped 0.7% to $557.70 a tonne.
* White sugar prices are on course for an annual gain of about 12.2%.
COFFEE
* March arabica coffee KCc1 fell 0.9% to $1.6855 per lb.
* Arabica coffee prices are on track for an annual loss of about 25.5% weighed by concerns a global economic downturn will curb demand, a generally favourable outlook for next year’s crop in top producer Brazil and rising exchange stocks.
* Dealers noted ICE certified coffee stocks stood at a 5-1/2 month high of 808,201 bags, as of Dec. 29. There were 242,447 bags pending grading.
* March robusta coffee LRCc2 fell 1.15% to $1,801 a tonne.
* Robusta coffee prices are on course for an annual loss of about 24%.
COCOA
* March London cocoa LCCc1 rose 0.2% to 2,049 pounds a tonne.
* London cocoa prices are on track for an annual gain of around 20.5%, boosted partly by a decline in the value of the pound versus the dollar during 2022.
* March New York cocoa CCc1 fell 0.04% to $2,577 a tonne.
* New York cocoa prices are on course for an annual gain of about 2.3%.
(Reporting by Nigel Hunt; Editing by Emelia Sithole-Matarise, Kirsten Donovan)
((nigel.hunt@thomsonreuters.com; +44 (0) 7990 561421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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