AGL 8.30 Increased By ▲ 0.44 (5.6%)
ANL 10.59 Increased By ▲ 0.24 (2.32%)
AVN 78.60 Increased By ▲ 0.70 (0.9%)
BOP 5.45 Increased By ▲ 0.06 (1.11%)
CNERGY 5.59 Increased By ▲ 0.58 (11.58%)
EFERT 80.25 Decreased By ▼ -0.55 (-0.68%)
EPCL 69.60 Increased By ▲ 1.50 (2.2%)
FCCL 15.30 Increased By ▲ 0.74 (5.08%)
FFL 6.53 Increased By ▲ 0.33 (5.32%)
FLYNG 7.18 Increased By ▲ 0.53 (7.97%)
GGGL 10.85 Increased By ▲ 0.27 (2.55%)
GGL 16.79 Increased By ▲ 0.38 (2.32%)
GTECH 8.14 Increased By ▲ 0.02 (0.25%)
HUMNL 7.04 Increased By ▲ 0.02 (0.28%)
KEL 2.99 Increased By ▲ 0.11 (3.82%)
LOTCHEM 30.77 Increased By ▲ 2.24 (7.85%)
MLCF 28.98 Increased By ▲ 2.03 (7.53%)
OGDC 82.75 Increased By ▲ 0.60 (0.73%)
PAEL 16.97 Increased By ▲ 0.32 (1.92%)
PIBTL 6.08 Increased By ▲ 0.24 (4.11%)
PRL 18.10 Increased By ▲ 1.35 (8.06%)
SILK 1.15 Increased By ▲ 0.05 (4.55%)
TELE 11.25 Increased By ▲ 0.28 (2.55%)
TPL 9.20 Decreased By ▼ -0.02 (-0.22%)
TPLP 19.88 Increased By ▲ 0.22 (1.12%)
TREET 26.46 Increased By ▲ 0.55 (2.12%)
TRG 94.60 Increased By ▲ 0.99 (1.06%)
UNITY 19.50 Increased By ▲ 0.50 (2.63%)
WAVES 14.34 Increased By ▲ 0.78 (5.75%)
WTL 1.30 Increased By ▲ 0.06 (4.84%)
BR100 4,187 Increased By 80.1 (1.95%)
BR30 15,474 Increased By 343.5 (2.27%)
KSE100 42,096 Increased By 670.9 (1.62%)
KSE30 15,883 Increased By 222.7 (1.42%)

NEW YORK/LONDON: Arabica coffee futures on ICE traded at their highest in almost 10 years on Friday, before easing later in the session, in response to tightening supplies in leading producers and worries about adverse weather.

Sugar and cocoa headed lower.

COFFEE

March arabica coffee rose 1.9% to settle at $2.3340 per pound, after reaching $2.3955, the highest since January 2012.

“Coffee prices have (reached) new multi-year highs on the back of poor supply outlooks in Brazil and Colombia (and) expectations La Niña could cause further crop issues,” said Fitch Solutions in a note.

The market’s recent strong performance has also fuelled technically driven buying.

January robusta coffee rose 1.5% to $2,245 a tonne.

Erratic weather has slowed bean ripening in top robusta producer Vietnam.

Despite good prices, sales of the next coffee harvest in Brazil have advanced little over the last month, due to production uncertainties and expectations that prices will move still higher, Safras & Mercado consultancy said on Friday.

SUGAR

March raw sugar fell 0.9% to 19.99 cents per lb, after peaking at 20.69 cents on Thursday, the highest level since February 2017.

“Sugar prices have risen further as reduced sugarcane supply in Brazil has been further compounded by increased cane diversion to ethanol, while global demand for sugar trends upwards,” Fitch Solutions said.

Thailand’s sugarcane production is expected to rise by nearly a third this season, bouncing back from decade-low levels hit last year due to drought.

Global sugar supplies are tightening further with a fourth successive global deficit forecast for the 2022/23 marketing year, Tropical Research Services (TRS) said in a report.

March white sugar fell 0.8% to $512.60 a tonne.

COCOA

March London cocoa fell 0.2% to 1,722 pounds a tonne.

“We expect (cocoa) prices to rise from spot (levels) over the coming months as grindings recover. We are bearish in softs in 2022, with the exception of cocoa for which the continued demand recovery will send prices higher,” said Fitch Solutions.

March New York cocoa fell 0.2% to $2,583 a tonne.

Comments

Comments are closed.