AVN 65.20 Increased By ▲ 0.25 (0.38%)
BAFL 30.74 Decreased By ▼ -0.77 (-2.44%)
BOP 4.80 Increased By ▲ 0.01 (0.21%)
CNERGY 3.71 Decreased By ▼ -0.13 (-3.39%)
DFML 14.21 Decreased By ▼ -0.20 (-1.39%)
DGKC 41.05 Decreased By ▼ -0.55 (-1.32%)
EPCL 46.45 Decreased By ▼ -0.25 (-0.54%)
FCCL 11.40 Increased By ▲ 0.11 (0.97%)
FFL 5.05 No Change ▼ 0.00 (0%)
FLYNG 5.80 Decreased By ▼ -0.02 (-0.34%)
GGL 10.33 Decreased By ▼ -0.12 (-1.15%)
HUBC 66.87 Increased By ▲ 1.23 (1.87%)
HUMNL 5.71 Increased By ▲ 0.05 (0.88%)
KAPCO 27.76 Increased By ▲ 0.01 (0.04%)
KEL 2.20 Increased By ▲ 0.05 (2.33%)
LOTCHEM 24.90 Increased By ▲ 0.55 (2.26%)
MLCF 21.44 Decreased By ▼ -0.04 (-0.19%)
NETSOL 83.60 Decreased By ▼ -1.19 (-1.4%)
OGDC 85.90 Decreased By ▼ -1.35 (-1.55%)
PAEL 11.01 Increased By ▲ 0.03 (0.27%)
PIBTL 4.22 No Change ▼ 0.00 (0%)
PPL 74.48 Decreased By ▼ -1.22 (-1.61%)
PRL 13.43 Decreased By ▼ -0.22 (-1.61%)
SILK 0.92 Increased By ▲ 0.03 (3.37%)
SNGP 40.40 Decreased By ▼ -0.93 (-2.25%)
TELE 5.86 Increased By ▲ 0.01 (0.17%)
TPLP 15.40 Decreased By ▼ -0.24 (-1.53%)
TRG 111.41 Decreased By ▼ -0.29 (-0.26%)
UNITY 13.75 Decreased By ▼ -0.23 (-1.65%)
WTL 1.14 Decreased By ▼ -0.02 (-1.72%)
BR100 4,037 Decreased By -26.9 (-0.66%)
BR30 14,412 Decreased By -56.6 (-0.39%)
KSE100 40,471 Decreased By -262.4 (-0.64%)
KSE30 15,163 Decreased By -67.2 (-0.44%)
Follow us

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.

Raw sugar futures ease, arabica coffee also weakens

PM Shehbaz says IMF giving Pakistan tough time over unlocking loan

Imran Khan decides against contesting by-elections on 33 NA seats

Cotton arrival plunges 36% year-on-year

2 terrorists killed in North Waziristan: ISPR

KSE-100 retreats 0.64% as rupee falls further

China expected to boost global growth but uncertainties remain: IMF

India’s Adani denies rise due to Modi as shares slump again

Sindh Police registers FIR against Sheikh Rashid in Karachi

Indian police arrest 1,800 men in crackdown on underage marriage

Chinese spy balloon flies over the United States, Pentagon says