AIRLINK 86.21 Decreased By ▼ -0.99 (-1.14%)
BOP 4.97 Decreased By ▼ -0.05 (-1%)
CNERGY 4.08 Decreased By ▼ -0.01 (-0.24%)
DFML 37.22 Decreased By ▼ -0.68 (-1.79%)
DGKC 91.20 Decreased By ▼ -2.68 (-2.85%)
FCCL 22.99 Decreased By ▼ -0.78 (-3.28%)
FFBL 33.74 Increased By ▲ 1.07 (3.28%)
FFL 9.19 Decreased By ▼ -0.06 (-0.65%)
GGL 10.05 Increased By ▲ 0.02 (0.2%)
HASCOL 6.25 Decreased By ▼ -0.29 (-4.43%)
HBL 126.25 Increased By ▲ 4.33 (3.55%)
HUBC 158.29 Increased By ▲ 12.64 (8.68%)
HUMNL 11.08 Increased By ▲ 0.58 (5.52%)
KEL 4.64 Decreased By ▼ -0.10 (-2.11%)
KOSM 4.09 Decreased By ▼ -0.10 (-2.39%)
MLCF 38.25 Decreased By ▼ -0.55 (-1.42%)
OGDC 133.40 Decreased By ▼ -1.61 (-1.19%)
PAEL 25.40 Increased By ▲ 0.32 (1.28%)
PIBTL 6.22 Decreased By ▼ -0.05 (-0.8%)
PPL 119.25 Decreased By ▼ -0.43 (-0.36%)
PRL 24.58 Increased By ▲ 0.48 (1.99%)
PTC 12.28 Increased By ▲ 0.06 (0.49%)
SEARL 59.32 Decreased By ▼ -0.48 (-0.8%)
SNGP 65.60 Increased By ▲ 0.60 (0.92%)
SSGC 9.87 Decreased By ▼ -0.18 (-1.79%)
TELE 7.85 Decreased By ▼ -0.02 (-0.25%)
TPLP 9.49 Decreased By ▼ -0.25 (-2.57%)
TRG 63.80 Decreased By ▼ -0.50 (-0.78%)
UNITY 27.26 Increased By ▲ 0.21 (0.78%)
WTL 1.28 Decreased By ▼ -0.04 (-3.03%)
BR100 8,341 Increased By 31.1 (0.37%)
BR30 26,457 Increased By 506.8 (1.95%)
KSE100 78,810 Increased By 9 (0.01%)
KSE30 25,474 Increased By 35.6 (0.14%)
Markets

London cocoa prices fall as May's discount widens

  • May London cocoa was down by 39 pounds, or 2.4%, to 1,602 pounds a tonne.
  • May raw sugar rose by 0.45 cents, or 3.0%, to 15.63 cents per lb.
  • May arabica coffee rose by 0.3 cents, or 0.2%, to $1.2815 per lb.
Published April 9, 2021

LONDON: London cocoa futures were lower on Friday, with front month May particularly weak as next week's quarterly grind data was expected to reinforce concerns about sluggish demand.

COCOA

May London cocoa was down by 39 pounds, or 2.4%, to 1,602 pounds a tonne at 1342 GMT.

The front month slid to a discount of 24 pounds to July versus a discount of about 10 pounds on Thursday and a premium of around 19 pounds on Wednesday.

Dealers said the front month's weakness reflected low demand and rising exchange stocks.

Valid certified stocks, as of April 8, stood at 97,730 tonnes, up from 55,400 tonnes at the end of 2020.

First quarter grinding data to be issued next week should provide further evidence that the COVID-19 pandemic is curbing consumption of cocoa beans.

Europe's first-quarter grind is expected to be issued on Wednesday, while North American data is due next Friday.

May New York cocoa fell by $24, or 1.0%, to $2,331 a tonne.

SUGAR

May raw sugar rose by 0.45 cents, or 3.0%, to 15.63 cents per lb.

Dealers said the market was continuing to regain ground after finding solid support around a three-month low of 14.67 cents set in late March.

The market's focus has been on the start of the harvest in top producer Brazil, with production in the centre-south region expected to fall this season.

Diminished prospects for production in the European Union have also provided support.

May white sugar rose by $4.10, or 1.0%, to $428.80 a tonne, with weak demand curbing interest in taking delivery when the contract expires next week.

COFFEE

May arabica coffee rose by 0.3 cents, or 0.2%, to $1.2815 per lb.

May robusta coffee fell by $4, or 0.3%, to $1,341 a tonne.

Comments

Comments are closed.