ANL 11.28 Increased By ▲ 1.00 (9.73%)
ASC 9.50 Increased By ▲ 0.41 (4.51%)
ASL 11.24 Increased By ▲ 0.25 (2.27%)
AVN 78.01 Increased By ▲ 0.41 (0.53%)
BOP 5.51 Increased By ▲ 0.11 (2.04%)
CNERGY 5.41 Increased By ▲ 0.08 (1.5%)
FFL 6.76 Increased By ▲ 0.16 (2.42%)
FNEL 5.91 Increased By ▲ 0.06 (1.03%)
GGGL 11.30 Increased By ▲ 0.21 (1.89%)
GGL 16.78 Increased By ▲ 0.25 (1.51%)
GTECH 8.99 Increased By ▲ 0.58 (6.9%)
HUMNL 7.20 Increased By ▲ 0.06 (0.84%)
KEL 2.96 Decreased By ▼ -0.04 (-1.33%)
KOSM 3.46 Increased By ▲ 0.25 (7.79%)
MLCF 27.15 Increased By ▲ 0.15 (0.56%)
PACE 3.10 Increased By ▲ 0.10 (3.33%)
PIBTL 6.11 Increased By ▲ 0.17 (2.86%)
PRL 18.06 Increased By ▲ 0.16 (0.89%)
PTC 7.08 Increased By ▲ 0.11 (1.58%)
SILK 1.19 Increased By ▲ 0.02 (1.71%)
SNGP 34.75 Increased By ▲ 0.47 (1.37%)
TELE 10.94 Increased By ▲ 0.13 (1.2%)
TPL 9.40 Increased By ▲ 0.32 (3.52%)
TPLP 20.49 Increased By ▲ 0.34 (1.69%)
TREET 29.40 Increased By ▲ 0.25 (0.86%)
TRG 77.50 Increased By ▲ 0.39 (0.51%)
UNITY 20.36 Increased By ▲ 0.31 (1.55%)
WAVES 12.80 No Change ▼ 0.00 (0%)
WTL 1.37 Increased By ▲ 0.04 (3.01%)
YOUW 5.51 Increased By ▲ 0.52 (10.42%)
BR100 4,117 Increased By 16.2 (0.39%)
BR30 15,069 Increased By 42.6 (0.28%)
KSE100 41,630 Increased By 89.5 (0.22%)
KSE30 15,861 Increased By 56.2 (0.36%)
Markets

White sugar prices ease, robusta and cocoa also down

  • May London cocoa was down 0.2% at 1,728 pounds a tonne
  • May robusta coffee fell 0.3% to $2,248 a tonne
  • May white sugar was down 0.1% at $484.20 a tonne
21 Feb, 2022

LONDON: White sugar futures on ICE were marginally lower on Monday with an improving outlook for production in India keeping the market on the defensive while robusta coffee and London cocoa prices also fell.

New York-based raw sugar, arabica coffee and cocoa contracts were closed on Monday for the Presidents' Day holiday.

Sugar

May white sugar was down 0.1% at $484.20 a tonne by 1053 GMT although prices remained well within this month's range of $477.20 to $494.40.

Marex analyst Robin Shaw said in a note that estimates of India's sugar production continued to grow and the consensus was now 32.5 million tonnes or higher.

A Reuters poll issued earlier this month had a median forecast of 31.7 million tonnes for India's sugar production in the 2021/22 season.

Shaw noted, however, that exports of Indian sugar had dwindled in the past two weeks because of relatively low world prices.

Czarnikow on Monday forecast there would be a global sugar deficit of 2.8 million tonnes in 2022/23 following a surplus of 4.0 million in the previous season.

Egypt's state sugar buyer ESIIC is believed to have purchased about 100,000 tonnes of raw sugar in an international tender which closed on Saturday, European traders said on Monday.

Arabica coffee prices fall; raw sugar hits one-week high

Coffee

May robusta coffee fell 0.3% to $2,248 a tonne.

Dealers said the outlook for coffee prices continued to hinge largely on the extent to which production in Brazil rebounds in the 2022/23 season.

Brazilian farmers are expected to harvest 58.9 million 60-kg bags of coffee in the new season (2022/23), a bit more than the 53.7 million bags they produced in the previous cycle that was hit by drought and frosts, broker StoneX projected on Friday.

Cocoa

May London cocoa was down 0.2% at 1,728 pounds a tonne.

Cocoa arrivals at ports in top grower Ivory Coast had reached 1.528 million tonnes by Feb. 20 since the start of the season on Oct. 1, exporters estimated on Monday, up 3.7% from the same period last season.

Comments

Comments are closed.