BML 4.83 Decreased By ▼ -0.08 (-1.63%)
BOP 13.04 Decreased By ▼ -0.09 (-0.69%)
CNERGY 7.00 Decreased By ▼ -0.04 (-0.57%)
CPHL 83.90 Decreased By ▼ -0.47 (-0.56%)
DCL 13.54 Decreased By ▼ -0.26 (-1.88%)
DGKC 171.70 Increased By ▲ 0.96 (0.56%)
FCCL 45.81 Decreased By ▼ -0.21 (-0.46%)
FFL 15.75 Increased By ▲ 0.11 (0.7%)
GCIL 26.20 Increased By ▲ 0.11 (0.42%)
HUBC 144.21 Decreased By ▼ -1.46 (-1%)
KEL 5.27 No Change ▼ 0.00 (0%)
KOSM 6.36 No Change ▼ 0.00 (0%)
LOTCHEM 20.65 No Change ▼ 0.00 (0%)
MLCF 84.59 Increased By ▲ 0.11 (0.13%)
NBP 124.05 Decreased By ▼ -2.17 (-1.72%)
PAEL 41.40 Decreased By ▼ -0.39 (-0.93%)
PIAHCLA 22.36 Increased By ▲ 0.33 (1.5%)
PIBTL 8.83 Increased By ▲ 0.10 (1.15%)
POWER 13.85 Decreased By ▼ -0.04 (-0.29%)
PPL 163.50 Decreased By ▼ -1.97 (-1.19%)
PREMA 43.10 Increased By ▲ 0.99 (2.35%)
PRL 32.37 Decreased By ▼ -0.15 (-0.46%)
PTC 21.98 Decreased By ▼ -1.71 (-7.22%)
SNGP 116.30 Decreased By ▼ -0.25 (-0.21%)
SSGC 43.45 Decreased By ▼ -1.12 (-2.51%)
TELE 7.86 Decreased By ▼ -0.18 (-2.24%)
TPLP 10.05 Increased By ▲ 0.05 (0.5%)
TREET 23.00 Decreased By ▼ -0.08 (-0.35%)
TRG 56.66 Decreased By ▼ -0.13 (-0.23%)
WTL 1.53 Increased By ▲ 0.01 (0.66%)
BR100 13,864 Increased By 84.7 (0.61%)
BR30 39,499 Decreased By -119.7 (-0.3%)
KSE100 136,380 Increased By 440.1 (0.32%)
KSE30 41,546 Increased By 172.6 (0.42%)
Markets

Arabica coffee prices weaken, raw sugar rises

  • September arabica coffee fell by 0.7 cents, or 0.45%, to $1.555 per lb.
  • September robusta coffee rose by $3, or 0.2%, to $1,599 a tonne.
Published June 15, 2021

LONDON: Arabica coffee futures on ICE were lower on Tuesday with much needed rains forecast for top producer Brazil while raw sugar prices rose, boosted partly by stronger energy markets.

COFFEE

September arabica coffee fell by 0.7 cents, or 0.45%, to $1.555 per lb at 1119 GMT.

Dealers said the market was weighed down partly by an improving outlook for next year's harvest in Brazil with some rain falling during the last few days and more forecast, bringing some relief after a period of extreme dry weather.

Weather service Maxar said its 6-10 day forecast for Brazil projected above normal precipitation from Sao Paulo to southern Minas Gerais and Espirito Santo, with the wettest conditions favouring the southern portion of the coffee belt.

Dealers were also keeping a close watch on the situation in Colombia after recent anti-government protests disrupted coffee exports.

September robusta coffee rose by $3, or 0.2%, to $1,599 a tonne.

SUGAR

July raw sugar rose by 0.12 cent, or 0.7%, to 17.41 cents per lb, extending the market's rebound from a more than two-week low of 16.93 cents set on Monday.

Dealers said stronger energy markets had provided some support, raising the possibility of a shift to using more cane to make biofuel ethanol rather than sugar.

"Fundamentals-driven players are likely to be happy to accumulate on price dips while the perceived need to keep sugar prices around about ethanol parity continues," Commonwealth Bank of Australia analyst Tobin Gorey said in a note.

August white sugar rose by $0.90, or 0.2%, to $449.40 a tonne.

COCOA

September London cocoa fell by 7 pounds, or 0.4%, to 1,629 pounds a tonne.

Above-average rainfall was recorded in Ivory Coast's cocoa regions last week, raising expectations for a strong finish to the April-to-September mid-crop cocoa harvest, farmers said on Monday.

September New York cocoa fell by $19, or 0.8%, to $2,428 a tonne.

Comments

Comments are closed.