ANL 15.31 Decreased By ▼ -0.57 (-3.59%)
ASC 13.21 Decreased By ▼ -0.29 (-2.15%)
ASL 17.46 Decreased By ▼ -0.84 (-4.59%)
BOP 8.70 Decreased By ▼ -0.18 (-2.03%)
BYCO 7.20 Decreased By ▼ -0.15 (-2.04%)
FCCL 18.40 Increased By ▲ 0.31 (1.71%)
FFBL 23.00 Decreased By ▼ -0.10 (-0.43%)
FFL 15.15 Decreased By ▼ -0.15 (-0.98%)
FNEL 7.08 Decreased By ▼ -0.03 (-0.42%)
GGGL 16.79 Decreased By ▼ -0.07 (-0.42%)
GGL 27.72 Decreased By ▼ -0.43 (-1.53%)
HUMNL 6.69 Increased By ▲ 0.05 (0.75%)
JSCL 19.25 Decreased By ▼ -0.35 (-1.79%)
KAPCO 26.70 Decreased By ▼ -0.30 (-1.11%)
KEL 3.42 Decreased By ▼ -0.01 (-0.29%)
MDTL 2.11 Decreased By ▼ -0.07 (-3.21%)
MLCF 35.25 Increased By ▲ 0.24 (0.69%)
NETSOL 100.70 Decreased By ▼ -3.05 (-2.94%)
PACE 4.12 Decreased By ▼ -0.06 (-1.44%)
PAEL 26.20 Decreased By ▼ -0.95 (-3.5%)
PIBTL 8.14 Decreased By ▼ -0.06 (-0.73%)
POWER 7.25 Increased By ▲ 0.32 (4.62%)
PRL 16.20 Decreased By ▼ -0.24 (-1.46%)
PTC 9.20 Increased By ▲ 0.12 (1.32%)
SILK 1.46 Decreased By ▼ -0.04 (-2.67%)
SNGP 40.10 Decreased By ▼ -0.65 (-1.6%)
TELE 16.47 Decreased By ▼ -0.67 (-3.91%)
TRG 125.50 Decreased By ▼ -4.86 (-3.73%)
UNITY 29.10 Decreased By ▼ -0.80 (-2.68%)
WTL 2.36 Decreased By ▼ -0.07 (-2.88%)
BR100 4,731 Decreased By ▼ -31.88 (-0.67%)
BR30 20,290 Decreased By ▼ -381.49 (-1.85%)
KSE100 45,525 Decreased By ▼ -296.3 (-0.65%)
KSE30 17,859 Decreased By ▼ -146.99 (-0.82%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,344
1624hr
Pakistan Cases
1,267,393
56724hr
1.45% positivity
Sindh
466,945
Punjab
438,636
Balochistan
33,159
Islamabad
106,615
KPK
177,240

LONDON: Raw sugar futures on ICE were lower on Wednesday, slipping back from the prior session’s four-year high, as the market continued to focus on crop conditions in Brazil.

SUGAR

October raw sugar was down 0.19 cents, or 1%, to 19.40 cents per lb at 1305 GMT. The front month climbed to a peak of 19.75 cents on Tuesday - the highest since March 2017.

Dealers said the market’s recent run-up was fuelled by diminishing prospects for production in Brazil, with concerns heightened by a report issued on Tuesday by cane industry group Unica.

The report confirmed damage to crops from unusually harsh frosts in June and July and the sugar season in Brazil could end much earlier than usual.

“If this really turned out to be the case, the global supply of sugar would tighten noticeably, as Brazil is responsible for roughly 40% of global sugar exports. The deficit estimates for the global sugar market in 2021/22 would then need to be revised considerably upwards,” Commerzbank said in a note.

October white sugar rose by $0.50, or 0.1%, to $468.70 a tonne.

COFFEE

September arabica coffee fell by 0.9 cents, or 0.5%, to $1.8150 per lb.

The market remained underpinned, however, by concerns that a severe frost in Brazil last month has dented production prospects in the world’s top exporter.

The International Coffee Organization, in a monthly report, said the average coffee price in July was the highest since November 2014 “as concerns grew about the current and future availability of many origins, especially the world’s largest producer, Brazil.”

Comments

Comments are closed.