AGL 8.15 Decreased By ▼ -0.15 (-1.81%)
ANL 11.09 Increased By ▲ 0.14 (1.28%)
AVN 83.70 Increased By ▲ 4.00 (5.02%)
BOP 5.85 Increased By ▲ 0.10 (1.74%)
CNERGY 5.65 Increased By ▲ 0.01 (0.18%)
EFERT 80.22 Increased By ▲ 0.86 (1.08%)
EPCL 67.28 Decreased By ▼ -0.20 (-0.3%)
FCCL 15.20 Increased By ▲ 0.31 (2.08%)
FFL 7.23 Increased By ▲ 0.53 (7.91%)
FLYNG 8.06 Increased By ▲ 0.90 (12.57%)
GGGL 12.00 Increased By ▲ 0.40 (3.45%)
GGL 17.71 Increased By ▲ 0.20 (1.14%)
GTECH 8.78 Increased By ▲ 0.43 (5.15%)
HUMNL 7.23 Increased By ▲ 0.06 (0.84%)
KEL 3.74 Increased By ▲ 0.60 (19.11%)
LOTCHEM 32.10 Decreased By ▼ -3.10 (-8.81%)
MLCF 29.00 Increased By ▲ 0.65 (2.29%)
OGDC 86.05 Decreased By ▼ -1.65 (-1.88%)
PAEL 17.40 Increased By ▲ 0.77 (4.63%)
PIBTL 6.30 Increased By ▲ 0.25 (4.13%)
PRL 19.10 Decreased By ▼ -0.36 (-1.85%)
SILK 1.19 Increased By ▲ 0.05 (4.39%)
TELE 12.25 Increased By ▲ 0.84 (7.36%)
TPL 9.18 Decreased By ▼ -0.02 (-0.22%)
TPLP 20.70 Increased By ▲ 0.45 (2.22%)
TREET 26.95 Decreased By ▼ -0.15 (-0.55%)
TRG 97.75 Increased By ▲ 1.55 (1.61%)
UNITY 23.00 Increased By ▲ 2.15 (10.31%)
WAVES 14.10 Increased By ▲ 0.20 (1.44%)
WTL 1.31 Decreased By ▼ -0.03 (-2.24%)
BR100 4,389 Increased By 113.1 (2.65%)
BR30 16,099 Increased By 305.6 (1.94%)
KSE100 43,677 Increased By 804.8 (1.88%)
KSE30 16,532 Increased By 312.9 (1.93%)
Markets

Raw sugar dips from multi-year highs, coffee also falls

  • December New York cocoa rose 0.7% to $2,700 a tonne
  • December arabica coffee slipped 0.3% to $2.0355 per lb
  • March raw sugar slipped 0.2% to 20.29 cents per lb
Published October 12, 2021

LONDON: Raw sugar futures on ICE slipped on Tuesday after hitting 4-1/2 year highs in the previous session, with signals from wider financial markets broadly negative and traders awaiting Brazilian output data later in the session.

Coffee also slipped while cocoa rose.

Sugar

March raw sugar slipped 0.2% to 20.29 cents per lb at 1124 GMT, having touched 20.61 cents on Monday for its highest since late February 2017.

A sell-off in global equities extended into Tuesday on signs that soaring energy prices have put a dampener on economic growth, triggering fears over sustained inflation and policy tightening.

Dealers said that sugar should remain well supported overall, citing a growing view that end-users will soon need to replenish stocks and that India selling will only emerge around 21 or even 21.50 cents.

France's farm ministry raised its 2021 sugar beet output estimate to 34 million tonnes from 33.1 million a month ago, up 29.6% on last year but 8.3% below the five-year average.

December white sugar edged up 0.1% to $522.20 a tonne.

Raw sugar hits 4-1/2-year high as energy prices soar

Coffee

December arabica coffee slipped 0.3% to $2.0355 per lb but was still up 5% this month.

Dealers said there was talk that global freight issues have sparked a run on coffee stocks as demand for one of the world's favourite drinks holds firm.

They noted ICE arabica stocks are down 11.5% since the beginning of September.

November robusta coffee fell 0.5% to $2,089 a tonne.

Cocoa

December New York cocoa rose 0.7% to $2,700 a tonne, having hit a seven-month peak of $2,792 last week.

December London cocoa rose 1% to 1,878 pounds per tonne.

Comments

Comments are closed.