AGL 5.51 Increased By ▲ 0.11 (2.04%)
ANL 8.49 Decreased By ▼ -0.30 (-3.41%)
AVN 75.73 Decreased By ▼ -0.43 (-0.56%)
BOP 5.21 Increased By ▲ 0.04 (0.77%)
CNERGY 4.42 Decreased By ▼ -0.06 (-1.34%)
EFERT 81.53 Increased By ▲ 0.43 (0.53%)
EPCL 49.54 Increased By ▲ 0.54 (1.1%)
FCCL 12.68 Decreased By ▼ -0.02 (-0.16%)
FFL 5.52 Decreased By ▼ -0.07 (-1.25%)
FLYNG 6.74 Decreased By ▼ -0.24 (-3.44%)
FNEL 4.64 Increased By ▲ 0.01 (0.22%)
GGGL 8.45 Decreased By ▼ -0.14 (-1.63%)
GGL 13.85 Decreased By ▼ -0.21 (-1.49%)
HUMNL 6.03 Increased By ▲ 0.53 (9.64%)
KEL 2.56 Decreased By ▼ -0.04 (-1.54%)
LOTCHEM 27.62 Decreased By ▼ -0.09 (-0.32%)
MLCF 23.75 Increased By ▲ 0.07 (0.3%)
OGDC 71.22 Decreased By ▼ -0.23 (-0.32%)
PAEL 15.16 Decreased By ▼ -0.04 (-0.26%)
PIBTL 4.87 Decreased By ▼ -0.04 (-0.81%)
PRL 15.86 Increased By ▲ 0.06 (0.38%)
SILK 1.09 Increased By ▲ 0.04 (3.81%)
TELE 8.84 Decreased By ▼ -0.15 (-1.67%)
TPL 7.08 Decreased By ▼ -0.08 (-1.12%)
TPLP 19.20 Decreased By ▼ -0.02 (-0.1%)
TREET 20.87 Decreased By ▼ -0.27 (-1.28%)
TRG 136.73 Decreased By ▼ -0.02 (-0.01%)
UNITY 16.54 Decreased By ▼ -0.26 (-1.55%)
WAVES 9.16 Increased By ▲ 0.06 (0.66%)
WTL 1.34 Decreased By ▼ -0.03 (-2.19%)
BR100 4,158 Decreased By -27.7 (-0.66%)
BR30 15,339 Decreased By -127.2 (-0.82%)
KSE100 41,652 Decreased By -167.7 (-0.4%)
KSE30 15,380 Decreased By -68.1 (-0.44%)
Follow us

LONDON: Cocoa futures on ICE fell sharply on Monday, erasing some of the market’s recent strong gains, while sugar and coffee prices also retreated.

COCOA

May New York cocoa fell 2.7% to $2,735 a tonne by 1540 GMT, extending the market’s decline from last week’s two-year high of $2,838.

Dealers noted the setback was not unexpected given the extent of the recent run-up in prices, with the May contract climbing more than $300 a tonne in less than two weeks before running into a wave of profit-taking.

The market remained underpinned, however, by a significant drop in production in Ghana in the current 2021/22 season and concerns that dry weather will curtail output in Ivory Coast over the coming weeks.

Poor rains and hot weather last week in most of Ivory Coast’s cocoa regions could damage development of the April to September mid-crop, farmers said on Monday.

“The current meteorological conditions indicate that drier weather ... is prevailing in the country’s main cocoa-growing areas and thereby raising concerns over the size and quality of the crop scheduled later on for the season,” the International Cocoa Organization said in an update on Monday.

May London cocoa was down 1.8% at 1,814 pounds a tonne.

SUGAR

March raw sugar fell 1.1% to 18.06 cents per lb as improving outlooks for crops in India and Thailand continued to exert downward pressure on prices.

Egyptian state buyer Egyptian Sugar and Integrated Industries Co (ESIIC) has issued an international tender to buy at least 50,000 tonnes of raw sugar, European traders said on Monday.

May white sugar fell 1.3% to $483.10 a tonne.

A total of 358,650 tonnes of mostly Indian white sugar has been tendered against the March contract on ICE Futures Europe, exchange data showed on Monday.

COFFEE

May arabica coffee fell 2.4% to $2.46 per lb, slipping further from a 10-year peak of $2.6045 set last week.

May robusta coffee was down 0.9% at $2,249 a tonne.

Comments

Comments are closed.

Cocoa futures fall sharply, sugar and coffee also down

Pakistan seeking $4.2bn from Saudi Arabia: reports

Will take action if terrorists regroup in Afghanistan: US State Department

Arshad Sharif killing: SC directs JIT to submit progress report every two weeks

Saudi lays on lavish welcome as China's Xi heralds 'new era' in relations

IHC bars FIA from arresting Suleman Shehbaz upon return from UK

Rupee continues to depreciate, settles at 224.37 against US dollar

Roshan Digital Account: monthly inflow lowest since Dec 2020, clocks in at $141mn in Nov

Saif-ur-Rehman appointed Karachi administrator

Another audio, purportedly of Bushra Bibi discussing ‘sale of watches’, surfaces

Modi’s party set for landslide election win in India’s Gujarat state