Arabica coffee prices ease, heading for weekly loss

LONDON, Feb 21 (Reuters) – Arabica coffee futures slipped on Friday and were on course for a weekly loss as the market retreated further from last week’s record high while cocoa prices also fell.

* Arabica coffee was down 0.2% at $3.8925 per lb by 1155 GMT, with the market on track to register a 4.5% weekly decline.

* Dealers said coffee prices appeared to have lost some upward momentum after a record high of $4.2995 last week, with roasters now holding adequate stocks after strong purchases in recent weeks and speculators taking some profits.

* Robusta coffee was down 0.04% at $5,653 a metric ton.

* New York cocoa futures fell 2.25% to $10,036 a ton, with the market poised for a weekly loss of 2.8%.

* Dealers said a modest recovery in production in West Africa and weak demand had helped to create a more balanced market this season after a large global deficit in 2023/24.

* London cocoa lost 2.3% to 7,836 pounds a ton.

* Raw sugar futures rose by a marginal 0.05% to 21.06 cents per lb after climbing to a two-month peak of 21.10 cents on Thursday.

* Dealers said supplies appeared tight, with crop problems limiting exports from India.

* The expiry of the March contract next Friday is set to provide a major focus over the next few days, with significant interest in taking delivery and some early estimate that the volume could be between 1.5 million and 2.0 million tons.

* White sugar lost 0.2% to $554.30 a ton. (Reporting by Nigel Hunt Editing by David Goodman )