COMMODITIES

Coffee futures soared nearly 10 per cent this week as reports of a smaller than expected harvest in Columbia, the world's second largest producer rattled traders. The price has jumped by more than 60 per cent in the last two months on concern about shortages later this year.

PLATINUM and PALLADIUM surged on concerns that Russia, the primary source for both metals, may not be able to ship any material due to the threat of a strike at the Norilsk complex in Siberia where workers have not been paid since October.

GOLD has rebounded in the last two weeks. Strengthening demand and easing concerns over central bank sales due to possible delay to the start of European Monetary Union helped boost the price nearly 2 per cent last week.

COPPER broke through $2,400 a ton for the first time in nine months as seasonal demand picked up especially in the construction industry which consumes about one-third of all copper.

HEATING OIL fell 5.8 per cent. Demand has fallen because of the mild winter in the US. Copyright: IOS & Bloomberg.