Coffee declines as cocoa post gains
Robusta coffee in London declined following a message from Brazilian Agriculture Ministry official that the nation's harvest may exceed the forecasted 41.3 million to 44.2 million bags.
Robusta for March delivery declined $23, or 1.1 percent, to $2,024 a metric ton and traded at $2,034 by noon in London.
Last year, Robusta used in espresso and instant coffee, gained 20 percent amid concerns that dry weather in Brazil might hurt the crops.
However, cocoa for March delivery increased 3 pounds, or 0.3 percent, to 1,120 pounds ($2,187) a ton after posting 17 percent gain last year.
The pound yesterday declined against the euro and dollar making cocoa in London cheaper to buy for holders of other currencies.
White sugar for March delivery fell $1.40, or 0.4 percent, to $333.60 a ton after posting 8 percent decline last year.
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