AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)
Markets

White sugar hits 4-1/2 year high, raw sugar also gains

  • December New York cocoa was flat at $2,662 a tonne
  • December arabica coffee fell 0.9% to $1.8570 per lb
  • December white sugar rose 0.7% to %518 a tonne
Published September 16, 2021

LONDON: White sugar futures on ICE hit their highest level in 4-1/2 years on Thursday on signs demand might be picking up, while raw sugar also rose as oil prices held onto their gains.

Sugar

December white sugar rose 0.7% to %518 a tonne at 1122 GMT, having hit the highest since March 2017 at $519.40.

October white sugar expired on Wednesday up 3.3%, with 124,800 tonnes set to be delivered against the expiring contract and just one trader cited as the receiver of the large delivery.

"White sugar will be the first sugar contract to feel an uptick in demand. That will be followed at a later time by raw sugar," said a dealer.

"A change in demand sentiment while supply could be cut back further is constructive for price," he added, citing ongoing concerns over supply from top producer Brazil, for both this season and next.

October raw sugar rose 0.4% to 19.59 cents per lb.

Raw sugar prices rise as commodity markets climb

Coffee

December arabica coffee fell 0.9% to $1.8570 per lb.

Green coffee stocks in the Unites States rose slightly to 6.1 million bags at the end of August.

"It's a modest increase but I would take (it) as bearish the market," said a dealer.

November robusta coffee slipped 0.1% to $2,080 a tonne.

Weak demand and low inventories at the end of the harvest season in top robusta producers Vietnam and Indonesia weighed on local prices this week, traders said..

Cocoa

December New York cocoa was flat at $2,662 a tonne.

December London cocoa was flat at 1,809 pounds per tonne.

Dealers said sentiment is bullish given an expected deficit of around 150,000 for the upcoming 2021/22 crop, improved demand, good pre-sales of the crop and high freight rates.

Comments

Comments are closed.