Cocoa, Coffee, Sugar Gain as the Dollar Decline
Cocoa, sugar and coffee gained in London after the dollar dropped against the euro, increasing demand from investors for commodities as an alternative investment.
Cocoa futures for May delivery increased by 1.1 percent, or 15 pounds to 1,422 pounds ($2,819) a ton on the Liffe exchange.
Cocoa for export in Ghana more than doubled last week.
Robusta coffee for May delivery increased by 0.8 percent, or $22, to $2,774 a metric ton on the Liffe exchange.
Arabica coffee futures for May delivery in New York dropped by 1.2 percent to $1.633 a pound.
Coffee stockpiles in Europe have dropped by 2.2 percent since Feb. 11 to 131,540 tons.
According to the International Coffee Organization, world coffee production was forecasted to be about 123 million and 125 million bags, which will just be enough to meet been demand in the year to October 2009.
White or refined sugar for May delivery increased by 0.4 percent, to $386.10 a ton.
Sugar prices have increased by 22 percent this year.
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