Cocoa, coffee recovery but after weekly losses amid the question

(Add Comments and Weekly Price Movements) New York, April 11 (Reuters) – World caca and coffee prices recovered from steep waterfalls in the middle of the week on Friday, but still posted weekly losses as investors still fear a global recession. The US administration said on Wednesday it would interrupt the most higher rates for 90 days, leaving them at 10% for all countries except China. The world’s second largest economy currently has rates of 145% effective, and again has retaliation with its own 125% duties on US imports. London Cocoa Terms Trading on the Ice Exchange and seen as a global price benchmark that produced 213 pounds, or 3.6%, to 6,207 pounds per ton, but finished 3% the week. New York’s cocoa rose 4.5% to $ 8,440 per tonne, by 1% in the week. “Rates are bad, not good. The uncertainty alone leads to an economic slowdown. (Investors) will just sit and wait (and) consumers will eat less chocolate and drink less coffee,” said a cocoa and coffee consultant. Top Cocao producer Ivory Coast said it could take measures to make the bean more expensive than Trump’s plans for a 21% tariff on Ivorical goods. Ivory Coast cannot determine the global cocoa price, but it can increase export taxes. Cocoa investors were already concerned about a downturn in demand thanks to high prices before the Trump tariffs. Barry Callebaut, whose ingredients are used in one in four chocolate and cocoa products worldwide, on Thursday placed a decline of the sales volume from 4.7% for the first six months of the year to August 31, and predicted a mid-single-digit sales volumes of the full year. Robusta Coffee Futures won $ 153, or 3.1%, at $ 5.049 a tonne, but was 2% during the week, while Arabica Coffee Futures rose 3.5% at $ 3.536 per pound on Friday, finishing 2.7% this week. BMI, a unit of Fitch Solutions, said it saw disadvantage risk for coffee demand due to the US rates, but increased the Arabica forecast of the Arabica to $ 3.40 per pound from $ 2.40 on an expected production in the top producers Brazil and Vietnam. Raw sugar dropped 0.12 cents, or 0.7%, at 18.00 cents per pound, with a weekly loss of 4.4%, while white sugar dropped 0.2%at $ 523.00 per tonne. (Reporting by May Angel and Marcelo Teixeira; Editing by Chizu Nomiyama, Jane Merriman and Mohammed Safi Shamsi) first published: 12 Apr 2025, 01:25 am Ist