AIRLINK 69.92 Increased By ▲ 4.72 (7.24%)
BOP 5.46 Decreased By ▼ -0.11 (-1.97%)
CNERGY 4.50 Decreased By ▼ -0.06 (-1.32%)
DFML 25.71 Increased By ▲ 1.19 (4.85%)
DGKC 69.85 Decreased By ▼ -0.11 (-0.16%)
FCCL 20.02 Decreased By ▼ -0.28 (-1.38%)
FFBL 30.69 Increased By ▲ 1.58 (5.43%)
FFL 9.75 Decreased By ▼ -0.08 (-0.81%)
GGL 10.12 Increased By ▲ 0.11 (1.1%)
HBL 114.90 Increased By ▲ 0.65 (0.57%)
HUBC 132.10 Increased By ▲ 3.00 (2.32%)
HUMNL 6.73 Increased By ▲ 0.02 (0.3%)
KEL 4.44 No Change ▼ 0.00 (0%)
KOSM 4.93 Increased By ▲ 0.04 (0.82%)
MLCF 36.45 Decreased By ▼ -0.55 (-1.49%)
OGDC 133.90 Increased By ▲ 1.60 (1.21%)
PAEL 22.50 Decreased By ▼ -0.04 (-0.18%)
PIAA 25.39 Decreased By ▼ -0.50 (-1.93%)
PIBTL 6.61 Increased By ▲ 0.01 (0.15%)
PPL 113.20 Increased By ▲ 0.35 (0.31%)
PRL 30.12 Increased By ▲ 0.71 (2.41%)
PTC 14.70 Decreased By ▼ -0.54 (-3.54%)
SEARL 57.55 Increased By ▲ 0.52 (0.91%)
SNGP 66.60 Increased By ▲ 0.15 (0.23%)
SSGC 10.99 Increased By ▲ 0.01 (0.09%)
TELE 8.77 Decreased By ▼ -0.03 (-0.34%)
TPLP 11.51 Decreased By ▼ -0.19 (-1.62%)
TRG 68.61 Decreased By ▼ -0.01 (-0.01%)
UNITY 23.47 Increased By ▲ 0.07 (0.3%)
WTL 1.34 Decreased By ▼ -0.04 (-2.9%)
BR100 7,394 Increased By 99.2 (1.36%)
BR30 24,121 Increased By 266.7 (1.12%)
KSE100 70,910 Increased By 619.8 (0.88%)
KSE30 23,377 Increased By 205.6 (0.89%)
Markets

Coffee and sugar prices rise as commodities climb

  • March London cocoa fell 0.2% to 1,717 pounds a tonne
  • March raw sugar rose 0.5% to 19.39 cents per lb
  • March arabica coffee was up 0.4% at $2.3825 per lb
Published December 16, 2021

LONDON: Coffee and sugar futures on ICE rose on Thursday, buoyed by broad-based gains in commodity and equity markets after the US Federal Reserve's upbeat reading of the world's largest economy.

Coffee

March arabica coffee was up 0.4% at $2.3825 per lb at 1224 GMT as the market continued to climb back up towards last week's 10-year high of $2.5235.

Dealers said the market continued to derive support from logistics issues which have slowed the flow of supplies from top producer Brazil with stocks in the US continuing to decline.

March robusta coffee rose 0.04% to $2,304 a tonne.

The weather has been becoming drier in top robusta producer Vietnam, allowing the harvest to proceed, but an upcoming storm, if it hits the key Central Highlands growing region, would disrupt the bean drying process and potentially hurt bean quality.

Arabica coffee climbs on crop concerns, sugar slips

Sugar

March raw sugar rose 0.5% to 19.39 cents per lb.

Dealers said, however, the market's decline earlier this week, which saw it slump to a one-week low of 19.18 cents on Wednesday, may have tempered fund appetite for the sweetener and there could now be resistance around 19.50 cents.

Dealers said weakness in India's domestic sugar market had also lowered the price to where exports are viable and there remained the prospect that India could sell more than 6 million tonnes on the world market this year.

March white sugar rose 0.5% to $505.50 a tonne.

Cocoa

March London cocoa fell 0.2% to 1,717 pounds a tonne, weighed partly by a stronger pound as the Bank of England raised its main interest rate.

March New York cocoa was up 0.2% at $2,552 a tonne.

Comments

Comments are closed.