AIRLINK 59.70 Decreased By ▼ -0.15 (-0.25%)
BOP 6.26 Decreased By ▼ -0.04 (-0.63%)
CNERGY 4.27 Decreased By ▼ -0.11 (-2.51%)
DFML 15.70 Decreased By ▼ -0.27 (-1.69%)
DGKC 69.20 Decreased By ▼ -2.50 (-3.49%)
FCCL 18.35 Decreased By ▼ -0.11 (-0.6%)
FFBL 26.75 Increased By ▲ 0.45 (1.71%)
FFL 9.28 Increased By ▲ 0.08 (0.87%)
GGL 10.30 Decreased By ▼ -0.02 (-0.19%)
HBL 115.90 Increased By ▲ 1.40 (1.22%)
HUBC 114.40 Increased By ▲ 1.70 (1.51%)
HUMNL 6.80 Increased By ▲ 0.15 (2.26%)
KEL 4.89 Increased By ▲ 0.06 (1.24%)
KOSM 4.65 Decreased By ▼ -0.03 (-0.64%)
MLCF 38.39 Decreased By ▼ -0.60 (-1.54%)
OGDC 125.30 Increased By ▲ 1.90 (1.54%)
PAEL 21.56 Decreased By ▼ -0.44 (-2%)
PIAA 10.87 Decreased By ▼ -0.13 (-1.18%)
PIBTL 6.02 No Change ▼ 0.00 (0%)
PPL 114.10 Increased By ▲ 5.70 (5.26%)
PRL 27.90 Decreased By ▼ -0.30 (-1.06%)
PTC 10.90 Decreased By ▼ -0.17 (-1.54%)
SEARL 51.70 Increased By ▲ 0.25 (0.49%)
SNGP 68.26 Increased By ▲ 0.26 (0.38%)
SSGC 11.42 Decreased By ▼ -0.18 (-1.55%)
TELE 7.80 Decreased By ▼ -0.27 (-3.35%)
TPLP 11.60 Decreased By ▼ -0.10 (-0.85%)
TRG 72.87 Decreased By ▼ -2.84 (-3.75%)
UNITY 23.55 Increased By ▲ 0.80 (3.52%)
WTL 1.30 Increased By ▲ 0.02 (1.56%)
BR100 6,653 Increased By 108.1 (1.65%)
BR30 22,594 Increased By 296 (1.33%)
KSE100 64,579 Increased By 875.1 (1.37%)
KSE30 21,889 Increased By 381.2 (1.77%)

LONDON: Raw sugar futures on ICE hit a 5-1/2 month low on Monday, extending a weak start to the year as supply prospects continued to improve while risk appetite soured in the wider financial markets.

SUGAR

March raw sugar fell 2.3% to 17.63 cents per lb at 1452 GMT, after hitting its lowest since late July at 17.61 cents.

Dealers said more rains are forecast for top sugar producer Brazil over the next 10 days, improving the crop outlook. Cane harvests in India and Thailand have also started well.

All the same, dealers said, sugar’s downside seems limited from here given prices have fallen below the ethanol parity in Brazil, which should tempt cane mills to divert some production from sugar to ethanol.

March white sugar fell 1.5% to $478.70 a tonne.

COCOA

March New York cocoa fell 0.6% to $2,506 a tonne, having settled up 4% on Friday.

The cocoa grind, a measure of demand, in top producer Ivory Coast rose nearly 2% year-on-year in December to 52,000 tonnes, data showed on Monday.

Ivory Coast vies with the Netherlands for position of the world’s top cocoa grinder.

Fourth-quarter grinding data for Europe, Asia and the US, to be released next week, is also expected to be show improved demand, dealers said.

In supply-side news, cocoa arrivals at ports in top grower Ivory Coast fell 6.4% year on year, from the season in October to Jan. 9.

March London cocoa fell 0.6% to 1,694 pounds per tonne, having closed up 3.1% on Friday.

COFFEE

March arabica coffee fell 1.9% to $2.3405 per lb??.

Weather forecasters are predicting rains in top coffee producer Brazil will taper off over the main growing areas during the next weeks.

Arabica has been boosted of late by rains that have flooded coffee fields in central eastern areas in Brazil, the latest in a climate roller-coaster for the country.

Starbucks customers arriving to claim their mobile drink orders have found cafes shut as service at US restaurants slows due to COVID-19, with many workers sick or scared to go to work.

March robusta coffee fell 3% to $2,248 a tonne, having hit a one month low of $2,246 earlier.

Comments

Comments are closed.