Arabica coffee futures edged up on Friday and London cocoa inched lower, pressured by a firmer pound, as markets felt positive sentiment from the $1.1 trillion package agreed by world leaders to revive the global economy.
Sugar futures were steady as the market consolidated after Thursday's rally.
Coffee traders said arabicas edged up on investor buying driven by positive sentiment after the G20 summit of world leaders wrapped up in London.
"It's carryover from yesterday's G20 positive feel," one London coffee dealer said.
ICE May arabicas were up 0.25 cent to $1.1705 a lb at 1113 GMT, while London May robustas fell $4 to $1,557 per tonne in moderate volume of 507 lots.
In cocoa, dealers said the rising pound dragged on London futures, while ICE cocoa was little changed.
"The pound is weighing on London cocoa, and we have seen Ghana hedging in distant months," one dealer said, referring to the world's number 2 producer.
Sterling jumped against other major currencies on Friday, hitting a seven-week high against the dollar, after a higher-than-expected reading in service sector data.
London July cocoa fell 7 pounds to 1,910 pounds per tonne in modest turnover of 400 lots at 1116 GMT, while ICE July cocoa eased $1 to $2,700 per tonne.
Ratios for cocoa butter dropped more than 10 percent in Asia, staying at their lowest level in five years, as grinders struggled to close sales ahead of the Easter celebrations, dealers said on Friday.
Sugar futures were little changed in routine two-way investor dealings, featuring active rollover business, against a backdrop of tightening supplies into the second half of 2009.
"Seven consecutive down days have now been followed by three consecutive rallies and today it is highly likely that we will see an inside day of consolidation and profit taking ahead of the weekend," Fortis said in a daily market report.
"The G20 communique came out as a widely predicted promise to fix global ills. The funds all bought commodities believing that the deflationary forces of demand destruction would give way to inflationary forces with the trillion dollar G20 pill."
ICE MAY raw sugar fell 0.07 cent to 12.99 cents per lb at 1117 GMT, while London May white sugar fell $1.20 to $403.00 per tonne in thin volume of 964 lots.
