AGL 5.79 Increased By ▲ 0.09 (1.58%)
ANL 9.02 Decreased By ▼ -0.08 (-0.88%)
AVN 78.93 Decreased By ▼ -0.23 (-0.29%)
BOP 5.19 Decreased By ▼ -0.02 (-0.38%)
CNERGY 4.69 Decreased By ▼ -0.04 (-0.85%)
EFERT 81.45 Increased By ▲ 0.34 (0.42%)
EPCL 50.84 Increased By ▲ 0.09 (0.18%)
FCCL 13.48 Decreased By ▼ -0.04 (-0.3%)
FFL 5.85 Increased By ▲ 0.09 (1.56%)
FLYNG 7.20 Decreased By ▼ -0.09 (-1.23%)
FNEL 4.80 Decreased By ▼ -0.04 (-0.83%)
GGGL 8.84 Decreased By ▼ -0.05 (-0.56%)
GGL 15.84 Increased By ▲ 0.04 (0.25%)
HUMNL 5.82 Decreased By ▼ -0.01 (-0.17%)
KEL 2.62 Increased By ▲ 0.03 (1.16%)
LOTCHEM 29.54 Decreased By ▼ -0.26 (-0.87%)
MLCF 25.15 No Change ▼ 0.00 (0%)
OGDC 72.30 Decreased By ▼ -0.40 (-0.55%)
PAEL 15.33 Decreased By ▼ -0.14 (-0.9%)
PIBTL 5.20 Increased By ▲ 0.07 (1.36%)
PRL 16.37 Decreased By ▼ -0.13 (-0.79%)
SILK 1.07 Decreased By ▼ -0.03 (-2.73%)
TELE 9.49 Decreased By ▼ -0.06 (-0.63%)
TPL 7.40 Increased By ▲ 0.07 (0.95%)
TPLP 19.19 Decreased By ▼ -0.07 (-0.36%)
TREET 22.00 Increased By ▲ 0.16 (0.73%)
TRG 142.40 Decreased By ▼ -1.70 (-1.18%)
UNITY 17.25 Decreased By ▼ -0.27 (-1.54%)
WAVES 10.04 Increased By ▲ 0.04 (0.4%)
WTL 1.36 Decreased By ▼ -0.01 (-0.73%)
BR100 4,246 Decreased By -11.8 (-0.28%)
BR30 15,773 Decreased By -68.1 (-0.43%)
KSE100 42,324 Decreased By -49.6 (-0.12%)
KSE30 15,627 Decreased By -38.1 (-0.24%)
Follow us

LONDON: Sugar, coffee and cocoa futures on ICE were lower on Monday as the rapid spread of the Omicron COVID-19 variant triggered widespread losses in equity and commodity markets.

SUGAR

March raw sugar fell 2.35% to 18.66 cents per lb by 1441 GMT after dipping to a low of 18.65 cents - the weakest level since Dec. 2.

Dealers said the scope for further losses may be limited as current prices could deter Indian exports while potentially encouraging more imports into China.

“The market is clearly bullish below 19 cents (per lb), and much less bullish above 20 cents,” broker Marex said in a weekly update.

China imported 630,000 tonnes of sugar in November, down 11.2% from the same month last year, according to data released by the General Administration of Customs.

March white sugar fell 1.6% to $490.20 a tonne.

COFFEE

March arabica coffee was down 3.7% at $2.2615 per lb as the market extended its pullback from a 10-year high of $2.5235 set on Dec. 7.

Dealers said funds have been scaling back long positions over the last few days as risk appetite diminishes against the backdrop of growing concerns about the new COVID-19 variant.

Speculators reduced their bullish bets in arabica coffee futures on ICE US in the week to Dec. 14, data from the Commodity Futures Trading Commission showed on Friday.

Much-needed rains in top producer Brazil this month have also contributed to the weakness in prices.

March robusta coffee fell 0.7% to $2,316 a tonne.

COCOA

March London cocoa fell 1.9% to 1,672 pounds a tonne.

Light rains and mild seasonal winds in most of Ivory Coast’s cocoa-growing regions last week should boost the quality and size of the October-to-March main crop, farmers said on Monday.

March New York cocoa was down 2.6% at $2,432 a tonne.

Cocoa arrivals at ports in top grower Ivory Coast reached 683,000 tonnes for the year running from Oct. 1 to Nov. 30, down 6.4% from the same period last season, data from the cocoa regulator (CCC) showed on Monday.

Comments

Comments are closed.

Sugar and coffee prices fall as commodity markets slide

At least 3 killed, over 20 injured in suicide blast in Quetta

Intra-day update: rupee records marginal gain against US dollar

November CPI likely to decline marginally

ECC approves Kissan Package: Power tariff for tubewells reduced to Rs13 per unit

Q4FY22 adjustment: KE tariff to go up by Rs1.55/unit

FTO says oil, gas sector ‘strictly’ governed by Ogra

Internet services now operating normally in Pakistan: PTA

FCA for Oct 2022: Nepra approves Rs3.3bn refund

‘Released’ consignments: Customs Adjudication can’t recover short levy, tax: SHC

General election: ECC approves Rs15bn for ECP