AIRLINK 63.43 Increased By ▲ 0.23 (0.36%)
BOP 5.46 Increased By ▲ 0.06 (1.11%)
CNERGY 4.68 Increased By ▲ 0.11 (2.41%)
DFML 19.02 Decreased By ▼ -0.71 (-3.6%)
DGKC 70.29 Increased By ▲ 1.29 (1.87%)
FCCL 19.12 Increased By ▲ 0.87 (4.77%)
FFBL 30.86 Increased By ▲ 1.47 (5%)
FFL 9.58 Increased By ▲ 0.27 (2.9%)
GGL 10.16 No Change ▼ 0.00 (0%)
HBL 109.20 Decreased By ▼ -0.86 (-0.78%)
HUBC 127.70 Increased By ▲ 1.69 (1.34%)
HUMNL 6.85 Increased By ▲ 0.12 (1.78%)
KEL 4.39 Decreased By ▼ -0.08 (-1.79%)
KOSM 4.43 Decreased By ▼ -0.02 (-0.45%)
MLCF 37.39 Increased By ▲ 0.79 (2.16%)
OGDC 128.50 Increased By ▲ 0.20 (0.16%)
PAEL 22.80 Decreased By ▼ -0.39 (-1.68%)
PIAA 26.50 Increased By ▲ 0.30 (1.15%)
PIBTL 6.19 Increased By ▲ 0.19 (3.17%)
PPL 112.52 Decreased By ▼ -0.28 (-0.25%)
PRL 26.85 Decreased By ▼ -0.30 (-1.1%)
PTC 16.75 Decreased By ▼ -0.34 (-1.99%)
SEARL 60.72 Decreased By ▼ -1.37 (-2.21%)
SNGP 65.35 Increased By ▲ 1.40 (2.19%)
SSGC 11.05 Increased By ▲ 0.02 (0.18%)
TELE 9.10 Decreased By ▼ -0.13 (-1.41%)
TPLP 11.28 Increased By ▲ 0.28 (2.55%)
TRG 69.85 Decreased By ▼ -1.10 (-1.55%)
UNITY 23.65 Decreased By ▼ -0.30 (-1.25%)
WTL 1.31 Decreased By ▼ -0.07 (-5.07%)
BR100 7,280 Increased By 64.2 (0.89%)
BR30 23,637 Increased By 105.1 (0.45%)
KSE100 70,315 Increased By 694.7 (1%)
KSE30 23,132 Increased By 221.5 (0.97%)
Markets

Arabica coffee climbs to highest level in almost a decade

  • March London cocoa fell 0.3% to 1,697 pounds a tonne
  • March raw sugar rose 0.55% to 20.10 cents per lb
Published November 17, 2021

LONDON: Arabica coffee futures on ICE rose to their highest level in almost a decade on Wednesday, boosted by tightening supplies in major consuming markets, while sugar prices also rose.

Coffee

March arabica coffee rose 3.2% to $2.3170 per lb by 1200 GMT after peaking at $2.3235, the highest level for the benchmark second position since January 2012.

Dealers said delays to shipments from South America as well as adverse crop weather in both Brazil and Colombia had helped to fuel the run-up in prices.

"High freight costs and shipping delays from South America to Asia are lending a tailwind to coffee prices," asset manager WisdomTree said in a report on Wednesday, adding excessive rains caused by La Nina had also hurt yields in Colombia, the world's second largest producer of arabica coffee.

Demand is also beginning to pick-up as COVID-19-related movement restrictions are gradually eased in several major consuming countries including the United States.

January robusta coffee rose 1.9% to $2,280 a tonne.

Arabica coffee prices rise, cocoa and sugar also climb

Sugar

March raw sugar rose 0.55% to 20.10 cents per lb.

Dealers noted the sugar season in India was off to a strong start with the upside continued to be capped by the potential for a pick-up in exports from the South Asian country if prices were to rise to around 20.50 cents.

Output at Indian sugar mills from Oct. 1 to Nov. 15 rose by nearly a quarter year on year to 2.09 million tonnes as many operations started crushing earlier than usual, a trade body said on Wednesday.

March white sugar rose 1% to $518.90 a tonne.

Cocoa

March London cocoa fell 0.3% to 1,697 pounds a tonne.

March New York cocoa was down 0.2% at $2,548 a tonne.

Comments

Comments are closed.