ANL 31.89 Increased By ▲ 0.84 (2.71%)
ASC 19.60 Increased By ▲ 0.59 (3.1%)
ASL 26.74 Decreased By ▼ -0.61 (-2.23%)
AVN 91.00 Decreased By ▼ -0.39 (-0.43%)
BOP 8.38 No Change ▼ 0.00 (0%)
BYCO 12.89 Decreased By ▼ -0.14 (-1.07%)
DGKC 127.75 Decreased By ▼ -3.00 (-2.29%)
EPCL 48.95 Decreased By ▼ -0.49 (-0.99%)
FCCL 24.05 Decreased By ▼ -0.35 (-1.43%)
FFBL 26.45 Decreased By ▼ -0.50 (-1.86%)
FFL 17.25 Decreased By ▼ -0.24 (-1.37%)
HASCOL 12.23 Increased By ▲ 0.33 (2.77%)
HUBC 81.68 Increased By ▲ 0.68 (0.84%)
HUMNL 8.63 Increased By ▲ 0.14 (1.65%)
JSCL 24.17 Decreased By ▼ -0.13 (-0.53%)
KAPCO 43.53 Decreased By ▼ -0.10 (-0.23%)
KEL 4.48 Decreased By ▼ -0.22 (-4.68%)
LOTCHEM 15.88 Decreased By ▼ -0.32 (-1.98%)
MLCF 48.26 Decreased By ▼ -1.06 (-2.15%)
PAEL 35.85 Decreased By ▼ -0.35 (-0.97%)
PIBTL 11.21 Decreased By ▼ -0.18 (-1.58%)
POWER 10.32 Decreased By ▼ -0.22 (-2.09%)
PPL 91.16 Decreased By ▼ -1.24 (-1.34%)
PRL 25.65 Decreased By ▼ -1.05 (-3.93%)
PTC 12.95 Increased By ▲ 0.05 (0.39%)
SILK 1.59 Decreased By ▼ -0.02 (-1.24%)
SNGP 48.40 Decreased By ▼ -0.95 (-1.93%)
TRG 165.99 Increased By ▲ 0.09 (0.05%)
UNITY 47.99 Decreased By ▼ -0.31 (-0.64%)
WTL 3.84 Decreased By ▼ -0.15 (-3.76%)
BR100 5,299 Decreased By ▼ -33.85 (-0.63%)
BR30 27,755 Decreased By ▼ -182.1 (-0.65%)
KSE100 48,481 Decreased By ▼ -151.66 (-0.31%)
KSE30 19,548 Decreased By ▼ -77.25 (-0.39%)
Markets

Raw sugar rises on fresh demand signs; arabica coffee also up

  • Arabica coffee was also up. Trading for robusta coffee, white sugar and London cocoa was absent due to a holiday.
05 Apr 2021

NEW YORK: Raw sugar futures closed up on Monday on ICE on news of fresh demand for the sweetener, but an uncertain outlook regarding the coronavirus pandemic and fund sales were limiting gains.

Arabica coffee was also up. Trading for robusta coffee, white sugar and London cocoa was absent due to a holiday.

SUGAR

May raw sugar ??settled up 0.13 cent, or 0.9pc, at 14.84 cents per lb.

Dealers said fresh demand news gave some support to prices on Monday, with talks of new tenders to buy sugar from Ethiopia and Pakistan.

There were also talks of Chinese buyers in the market, although no deals were confirmed.

The spike in coronavirus cases in several countries, however, is putting a lid on gains.

Speculators cut their net long position in raw sugar futures on ICE by 9,265 contracts to 105,749 contracts in week to March 30, the CFTC said on Friday.

COFFEE

May arabica coffee settled up 0.5 cent, or 0.4pc, at $1.221 per lb??.

Dry weather in most growing areas in top producer Brazil is seeing supporting prices, dealers said, as it could hurt bean growth in the last development stage before the harvest starts.

Speculators cut their net long position in arabica coffee by 9,349 contracts to 12,236 contracts in the week to March 30, CFTC said on Friday.

Reuters technical analyst Wang Tao said arabica futures may seek a support at $1.1990 per lb in the new quarter, then retest a resistance at $1.3985/lb.

COCOA

May New York cocoa ??settled down $56, or 2.3pc, at $2,336 a tonne.

Speculators switched to a net short position in New York cocoa futures of 2,259 contracts in the week to March 30, cutting 14,674 contracts.

Reuters technical analyst Wang Tao said cocoa may test a support at $2,400 per tonne in the new quarter, adding that a break below could cause it to fall into a range of $2.177-$2,300.

Rainfall was below average last week across Ivory Coast's cocoa-growing regions, but farmers remained hopeful of an abundant April-to-September mid-crop provided the rains pick up as expected this month.