ANL 16.20 Decreased By ▼ -0.18 (-1.1%)
ASC 14.63 Increased By ▲ 0.95 (6.94%)
ASL 20.04 Decreased By ▼ -0.41 (-2%)
BOP 8.55 Decreased By ▼ -0.05 (-0.58%)
BYCO 7.53 Increased By ▲ 0.24 (3.29%)
FCCL 17.50 Increased By ▲ 0.11 (0.63%)
FFBL 23.15 Increased By ▲ 1.68 (7.82%)
FFL 15.25 Increased By ▲ 0.35 (2.35%)
FNEL 7.35 Increased By ▲ 0.05 (0.68%)
GGGL 17.15 Increased By ▲ 0.74 (4.51%)
GGL 29.95 Increased By ▲ 0.10 (0.34%)
HUMNL 5.96 Increased By ▲ 0.17 (2.94%)
JSCL 20.68 Increased By ▲ 0.28 (1.37%)
KAPCO 28.99 Increased By ▲ 0.31 (1.08%)
KEL 3.48 Increased By ▲ 0.03 (0.87%)
MDTL 2.11 Decreased By ▼ -0.09 (-4.09%)
MLCF 33.60 Increased By ▲ 0.18 (0.54%)
NETSOL 106.00 Decreased By ▼ -1.55 (-1.44%)
PACE 4.33 Decreased By ▼ -0.17 (-3.78%)
PAEL 27.95 Increased By ▲ 0.75 (2.76%)
PIBTL 8.70 Increased By ▲ 0.10 (1.16%)
POWER 6.90 Decreased By ▼ -0.03 (-0.43%)
PRL 17.18 Increased By ▲ 0.87 (5.33%)
PTC 9.30 Increased By ▲ 0.12 (1.31%)
SILK 1.44 No Change ▼ 0.00 (0%)
SNGP 42.33 Increased By ▲ 0.27 (0.64%)
TELE 16.45 Decreased By ▼ -0.09 (-0.54%)
TRG 135.78 Decreased By ▼ -2.22 (-1.61%)
UNITY 29.90 Increased By ▲ 1.40 (4.91%)
WTL 2.40 Decreased By ▼ -0.05 (-2.04%)
BR100 4,668 Increased By ▲ 50.21 (1.09%)
BR30 20,892 Increased By ▲ 107.28 (0.52%)
KSE100 44,822 Increased By ▲ 487.85 (1.1%)
KSE30 17,521 Increased By ▲ 178.45 (1.03%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,269
1724hr
Pakistan Cases
1,264,384
72024hr
1.61% positivity
Sindh
465,486
Punjab
437,793
Balochistan
33,120
Islamabad
106,445
KPK
176,774
Markets

Raw sugar sees front-month discount widen on weak demand

  • December New York cocoa fell 0.6% to $2,575 a tonne
  • December arabica coffee fell 0.7% to $1.93 per lb
  • October raw sugar, which expires on Thursday
27 Sep 2021

LONDON: Raw sugar futures on ICE saw the October position weaken further on Monday in the run-up to its expiry later this week as poor demand continued to undermine the market.

Sugar

October raw sugar, which expires on Thursday, fell 0.3% to 19.04 cents per lb by 1139 GMT.

Dealers noted October's discount to March widened further to around 0.93 cent, indicating there was little appetite to take delivery of sugar against the contract.

"The spread (large discount) is a very negative factor, implying not only that we will be carrying a surplus into next year, but that, although supply of CS (Centre-South) Brazil sugar has declined by 6.5/7.0 million tonnes, demand has dropped by more," broker Marex said in a market update.

Speculators reduced their net long position in raw sugar futures on ICE US in the week to Sept. 21, the US Commodity Futures Trading Commission (CFTC) said on Friday.

December white sugar rose 0.6% to $507.40 a tonne.

India's biggest sugar producing state, Uttar Pradesh, has raised the price mills must pay for the new crop by 7.9%, the top official said, announcing the first hike in the cane price in four years.

Raw sugar hits one-month low as funds sell amid weak demand

Coffee

December arabica coffee fell 0.7% to $1.93 per lb, slipping back from Friday's three-week high of $1.9530.

The market remained underpinned by crop concerns in top producer Brazil linked to dry conditions although rains are forecast for some areas towards the end of this week.

November robusta coffee was down 0.4% to $2,140 a tonne.

Cocoa

December New York cocoa fell 0.6% to $2,575 a tonne.

December London cocoa was 0.5% lower at 1,780 pounds a tonne.

Comments

Comments are closed.