AIRLINK 65.59 Increased By ▲ 1.00 (1.55%)
BOP 5.68 Increased By ▲ 0.08 (1.43%)
CNERGY 4.77 Increased By ▲ 0.05 (1.06%)
DFML 22.32 Increased By ▲ 1.56 (7.51%)
DGKC 71.04 Decreased By ▼ -0.36 (-0.5%)
FCCL 19.76 Decreased By ▼ -0.19 (-0.95%)
FFBL 31.11 Increased By ▲ 0.66 (2.17%)
FFL 10.18 Increased By ▲ 0.13 (1.29%)
GGL 10.03 Decreased By ▼ -0.02 (-0.2%)
HBL 113.31 Increased By ▲ 2.31 (2.08%)
HUBC 131.90 Increased By ▲ 1.06 (0.81%)
HUMNL 6.80 Decreased By ▼ -0.05 (-0.73%)
KEL 4.44 Increased By ▲ 0.05 (1.14%)
KOSM 4.47 Increased By ▲ 0.13 (3%)
MLCF 37.50 Decreased By ▼ -0.25 (-0.66%)
OGDC 134.55 Increased By ▲ 0.70 (0.52%)
PAEL 22.70 Increased By ▲ 0.13 (0.58%)
PIAA 27.43 Decreased By ▼ -0.12 (-0.44%)
PIBTL 6.38 Increased By ▲ 0.07 (1.11%)
PPL 115.65 Increased By ▲ 0.70 (0.61%)
PRL 27.45 Increased By ▲ 0.23 (0.84%)
PTC 16.78 Increased By ▲ 0.28 (1.7%)
SEARL 60.81 Increased By ▲ 0.11 (0.18%)
SNGP 66.48 Increased By ▲ 1.33 (2.04%)
SSGC 11.29 Decreased By ▼ -0.06 (-0.53%)
TELE 9.05 Increased By ▲ 0.08 (0.89%)
TPLP 11.27 Increased By ▲ 0.02 (0.18%)
TRG 70.10 Increased By ▲ 1.05 (1.52%)
UNITY 23.51 Increased By ▲ 0.07 (0.3%)
WTL 1.41 Increased By ▲ 0.02 (1.44%)
BR100 7,365 Increased By 40.2 (0.55%)
BR30 24,251 Increased By 193.5 (0.8%)
KSE100 70,825 Increased By 280.2 (0.4%)
KSE30 23,292 Increased By 100.6 (0.43%)
Markets

Robusta coffee prices weaken, cocoa also down

  • May robusta coffee was down $13, or 0.9%, at $1,393 a tonne.
  • May London cocoa fell by 13 pounds, or 0.7%, to 1,793 pounds a tonne, extending its retreat from a three-month high of 1,822 pounds set on Wednesday.
Published March 5, 2021

LONDON: Robusta coffee futures on ICE fell to the lowest level in almost two weeks on Friday with the prospect of a larger robusta crop in Brazil this year weighing on prices.

COFFEE

May robusta coffee was down $13, or 0.9%, at $1,393 a tonne at 1451 GMT after dipping to a low of $1,385 - the weakest in almost two weeks.

Broker Marex Spectron, in a report issued on Friday, forecast the Brazil robusta (conillon) crop at 20.8 million bags, up 9.5% from the prior season.

The report projected there would be a robusta surplus of 1.4 million bags in 2021/22 but an arabica deficit of 12.1 million bags.

Marex Spectron put the Brazil arabica crop in 2021/22, an off-year in the country's biennial crop cycle, at 32.8 million bags, sharply down from 50.0 million in the prior season.

May arabica coffee fell by 2.15 cents, or 1.6%, to $1.30 per lb.

COCOA

May London cocoa fell by 13 pounds, or 0.7%, to 1,793 pounds a tonne, extending its retreat from a three-month high of 1,822 pounds set on Wednesday.

Dealers said the recent upward move had lost momentum and a bout of profit-taking had now emerged.

Tightness in available supplies to tender against March remained a concern, however, and the front month's premium to May was holding around 160 pounds.

May New York cocoa was down $37, or 1.4%, at $2,588 a tonne.

Total reported cocoa stocks fell by 87,000 tonnes during the 2019/20 season (October/September), the International Cocoa Organization Expert Working Group on Stocks estimated after a meeting on Thursday.

SUGAR

May raw sugar rose by 0.17 cents, or 1.05%, to 16.43 cents per lb, boosted partly by a rise in crude oil prices to the highest level in almost 14 months.

May white sugar rose by $4, or 0.9%, to $466 a tonne.

Comments

Comments are closed.