COCOA/COFFEE/SUGAR TRADE NEWS/MARKET COMMENT
West African
origins believed near market, especially Ivory and Ghana. Ivory
reported traded yesterday around 1,325 French Francs per 100
kilos cif for new crop while Ghana was offering at 1,460 stg a
tonne cif, also for new crop... Offtake small, restricted to
dealer book-squaring ahead of buffer stock buying which
possibly next week, some say... Ghana resale June/Aug 60 stg
over Sep.
    Cocoa comment/market talk - Terminal on defensive on firm
sterling and overhanging West African new crop offers, but
prospective buffer stock buying and lower Bahia Temperao crop
(possibly down to 1.5 mln bags from 2.0/2.5 mln) constructive.
    Sugar physical trade - Malta tendering for 3,000 tonnes
whites today for arrival in two equal parts in May and June. No
news by late afternoon... India in tomorrow for one/two cargoes
whites with Syria tendering same day for 36,000 tonnes whites
for June/July/Aug shipment... EC export tender tomorrow but
after last week's heavy authorised exports (102,350 tonnes) at
the highest ever-rebate of 46.864 Ecus per 100 kilos, and with
move to intervention of near 800,000 tonnes, tomorrow's result
is anybody's guess, traders said... Pakistan tendering
Saturday.
    Sugar comment/market talk - Afternoon terminal rally after
fall which had been linked to lack of Soviet/Chinese offtake.
    Coffee physical market - Origin offers scarce and roaster
demand quieted down... Roasters may be adequately covered for
time being after Brazilian, Colombian and Mexican sales over
the past week.
    Coffee market talk and comment - Futures quietly firmer,
but trade featureless. Prices seem to be consolidating at
current levels following recent declines, but will need further
signs of demand to sustain support, dealers said... With Brazil
May registrations out of the way, market is awaiting fresh
fundamental news to provide direction.
 REUTER
