AGL 6.90 Increased By ▲ 0.45 (6.98%)
ANL 9.77 Increased By ▲ 0.07 (0.72%)
AVN 76.82 Decreased By ▼ -0.78 (-1.01%)
BOP 5.49 Increased By ▲ 0.06 (1.1%)
CNERGY 5.05 Increased By ▲ 0.08 (1.61%)
EFERT 79.83 Increased By ▲ 2.58 (3.34%)
EPCL 57.48 Increased By ▲ 1.99 (3.59%)
FCCL 15.30 Decreased By ▼ -0.06 (-0.39%)
FFL 6.48 No Change ▼ 0.00 (0%)
FLYNG 7.34 Decreased By ▼ -0.13 (-1.74%)
GGGL 10.75 Increased By ▲ 0.30 (2.87%)
GGL 16.94 Increased By ▲ 0.55 (3.36%)
GTECH 8.30 Decreased By ▼ -0.07 (-0.84%)
HUMNL 6.45 No Change ▼ 0.00 (0%)
KEL 3.02 Increased By ▲ 0.09 (3.07%)
LOTCHEM 29.15 Increased By ▲ 0.81 (2.86%)
MLCF 28.30 Increased By ▲ 0.22 (0.78%)
OGDC 76.53 Increased By ▲ 2.68 (3.63%)
PAEL 15.87 Increased By ▲ 0.32 (2.06%)
PIBTL 5.43 Increased By ▲ 0.08 (1.5%)
PRL 17.69 Increased By ▲ 0.30 (1.73%)
SILK 1.08 Increased By ▲ 0.01 (0.93%)
TELE 10.82 Decreased By ▼ -0.14 (-1.28%)
TPL 8.60 Increased By ▲ 0.79 (10.12%)
TPLP 21.19 Increased By ▲ 1.53 (7.78%)
TREET 23.80 Decreased By ▼ -0.05 (-0.21%)
TRG 127.50 Increased By ▲ 0.60 (0.47%)
UNITY 23.10 Increased By ▲ 0.04 (0.17%)
WAVES 11.63 Increased By ▲ 0.08 (0.69%)
WTL 1.14 No Change ▼ 0.00 (0%)
BR100 4,174 Increased By 48.3 (1.17%)
BR30 15,806 Increased By 310.9 (2.01%)
KSE100 41,518 Increased By 366.7 (0.89%)
KSE30 15,562 Increased By 142.1 (0.92%)
Markets

Arabica coffee prices soften; raw sugar also down

  • July arabica coffee fell by 0.95 cents, or 0.6%, to $1.6020 per lb.
  • July raw sugar fell by 0.17 cents, or 1%, to 17.51 cents per lb.
  • September New York cocoa rose by $16, or 0.65%, to $2,482 a tonne.
Published June 3, 2021
Follow us

LONDON: Arabica coffee futures on ICE were lower on Thursday, retreating further from a 4-1/2 year high set this week, while raw sugar prices also weakened.

COFFEE

July arabica coffee fell by 0.95 cents, or 0.6%, to $1.6020 per lb by 1243 GMT. The front month set a 4-1/2 year high of $1.6675 on Tuesday.

Dealers said a pullback was not unexpected because the market had become technically overbought after the recent strong advance, but it remains underpinned by dry conditions in Brazil and delays to exports from Colombia.

Brazil's worst water crisis in almost a century will hamper river navigation and make transportation of goods more expensive in the world's largest exporter of commodities ranging from soybeans to coffee and sugar.

Anti-government protests in Colombia have blocked exports of about 800,000 60kg bags of coffee in May, according to projections from the local coffee growers federation on Wednesday.

July robusta coffee rose by $3, or 0.2%, to $1,604 a tonne.

Vietnam coffee export prices slid to discounts against the international benchmark as robusta prices in London rose last week on supply worries, traders said.

SUGAR

July raw sugar fell by 0.17 cents, or 1%, to 17.51 cents per lb.

Dealers said the market had slipped back towards the middle of its recent range, with a pick-up in the pace of sugar production in Brazil helping to pressure prices while the outlook for crops in India appeared favourable.

India's annual monsoon arrived on the Kerala coast on Thursday, the state-run weather office said, marking the start of the four-month rainy season crucial for the farm-dependent economy.

August white sugar fell by $2.60, or 0.6%, to $461.90 a tonne.

COCOA

September New York cocoa rose by $16, or 0.65%, to $2,482 a tonne.

September London cocoa fell by 2 pounds, or 0.1%, to 1,628 pounds a tonne.

Comments

Comments are closed.