AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,596 Increased By 136 (0.53%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)
Markets

Sugar prices fall on ample supplies; cocoa, coffee also down

  • July raw sugar was down 1.3% at 17.43 cents per lb.
  • July arabica coffee fell 0.4% to $1.6015 per lb. The contract hit a 4-1/2 year high last week.
Published June 11, 2021

LONDON: Sugar prices on ICE fell on Friday due to signs of ample supplies, though the market remained within recent ranges. Cocoa and coffee prices also headed lower.

SUGAR

July raw sugar was down 1.3% at 17.43 cents per lb at 1304 GMT.

August white sugar fell 1% to $450 a tonne.

Dealers said the widening discounts for front month versus second month raw and white sugar indicated nearby supplies remained plentiful, but added there was good buying from end-users at around 17.60, keeping prices range-bound.

Data showed sugar production in the key Centre-South region of top producer Brazil totalled 2.62 million tonnes in the second half of May - above market expectations.

COFFEE

July arabica coffee fell 0.4% to $1.6015 per lb. The contract hit a 4-1/2 year high last week.

Dealers said the market remained concerned about next year's crop in top arabica producer Brazil, after severe dryness damaged the current crop.

There are signs anti-government protests that disrupted exports like coffee in world No. 2 arabica producer Colombia are losing steam.

July robusta coffee fell 0.2% to $1,608 a tonne.

COCOA

September London cocoa fell 0.3% to 1,617 pounds per tonne.

World No. 2 cocoa producer Ghana's bean arrivals at ports reached 924,385 tonnes by May 27 since the start of the season on Oct. 1, up 25.3% from last season.

Cocoa has sharply underperformed other soft commodities this year. Dealers said the market was struggling for direction and appeared range-bound for now.

Fitch Solutions expects cocoa to trade between 1,600 and 1,750 pounds over the coming weeks of June and July as COVID-19 pandemic restrictions continue to hurt chocolate demand.

September New York cocoa fell 1.5% to $2,396 a tonne.

Comments

Comments are closed.