(Provides feedback and shutting costs)
NEW YORK, Feb 28 (Reuters) –
Uncooked sugar futures on ICE fell on Friday with the concentrate on the expiry of the March contract, whereas espresso and cocoa additionally closed down.
* Uncooked sugar futures settled down 0.18 cent, or 0.9%, at 19.51 cents per lb. The contract misplaced 8.4% within the week.
* Sellers mentioned the premium for the March contract to Could
had fallen sharply to round 0.59 cents from as excessive as 1.61 cents earlier this week forward of its expiry on Friday.
* Deliveries of uncooked sugar on the expiry of the March contract have been seen at 34,385 tons, or 1.74 million metric tons, the most important ever for that contract, in response to preliminary data from merchants on Friday.
* Massive deliveries are normally seen as bearish for the market.
* White sugar fell 1.3% at $532.60 a metric ton, having misplaced 4.9% weekly.
* Indian mills produced 21.98 million metric tons of sugar between October 1 and February 28, down 14% from the earlier yr, on decrease output from key producing states Maharashtra and Karnataka, a business physique mentioned.
* New York cocoa settled down $131, or 1.4%, to $9,124 a ton. It was flat for the week.
* BMI mentioned in a be aware that there have been considerations that demand was easing within the face of elevated costs. Costs have tripled within the final two years.
* The Worldwide Cocoa Group on Friday forecast there could be a worldwide cocoa surplus of 142,000 metric tons within the 2024/25 season (October-September).
* London cocoa fell 1.5% to 7,342 kilos per ton.
* Arabica espresso was little modified at $3.7305 per lb. The contract misplaced 4.1% within the week.
* Sellers mentioned the market appeared to have stabilised after tumbling from a report peak of $4.2995, set on Feb. 11, to a low of $3.6630 on Wednesday.
* Robusta espresso fell 0.9% at $5,330 a ton, having misplaced 7% within the week. (Reporting by Nigel Hunt and Marcelo Teixeira; enhancing by David Evans, Ros Russell and Mohammed Safi Shamsi)
