AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)
Markets

Raw sugar prices rise as supplies tighten; cocoa also up

  • November robusta coffee was unchanged at $2,066 a tonne
  • October raw sugar rose by 0.4% to 19.74 cents per lb
  • December New York cocoa rose by 1.6% to $2,579 a tonne
Published September 2, 2021

LONDON: Raw sugar futures on ICE were higher on Thursday, buoyed by continued support from tightening supplies, while cocoa prices also climbed.

Sugar

  • October raw sugar rose by 0.4% to 19.74 cents per lb by 1205 GMT.

  • Dealers said the market was underpinned by tightening supplies after a drop in Brazilian production with sugar exports falling to 2.60 million tonnes in August, down from 3.14 million tonnes in the same month last year.

  • "The main factor driving the upswing in recent weeks has been Brazilian production, which was first hit by drought and then also by frost," Commerzbank said in a note, adding sugar that prices had risen by more than 50% over the past 12 months.

  • October white sugar rose by 0.7% to $486.80 a tonne.

London cocoa hits three week low amid excess supplies

Cocoa

  • December New York cocoa rose by 1.6% to $2,579 a tonne.

  • Dealers said the market was supported by an expected decline in production in West Africa during the upcoming 2021/22 season, which begins next month.

  • Nigeria's cocoa output is likely to fall by at least 12.5% next season as late and heavy rains threaten to damage the main crop and raise the risk of disease, the president of the country's cocoa industry association said.

  • December London cocoa was up 1.4% at 1,784 pounds a tonne.

Coffee

  • November robusta coffee was unchanged at $2,066 a tonne, holding just below the four-year high of $2,092 set on Wednesday.

  • Dealers said the market continued to gain support from a pick-up in robusta demand, linked to the high price of arabica beans, and the current high cost of shipping supplies from top robusta producer Vietnam.

  • Markets in Vietnam were closed on Thursday and will remain shut on Friday for national holidays.

  • December arabica coffee was up 0.95% at $1.9750 per lb.

Comments

Comments are closed.