AGL 23.81 Decreased By ▼ -0.54 (-2.22%)
AIRLINK 103.60 Increased By ▲ 0.60 (0.58%)
BOP 5.66 Decreased By ▼ -0.05 (-0.88%)
CNERGY 3.93 Decreased By ▼ -0.03 (-0.76%)
DCL 8.36 Decreased By ▼ -0.14 (-1.65%)
DFML 41.70 Decreased By ▼ -1.29 (-3%)
DGKC 88.30 Decreased By ▼ -0.60 (-0.67%)
FCCL 22.70 No Change ▼ 0.00 (0%)
FFBL 40.88 Increased By ▲ 2.68 (7.02%)
FFL 8.96 Decreased By ▼ -0.15 (-1.65%)
HUBC 160.49 Decreased By ▼ -3.21 (-1.96%)
HUMNL 11.46 Decreased By ▼ -0.34 (-2.88%)
KEL 4.82 Decreased By ▼ -0.03 (-0.62%)
KOSM 4.09 Decreased By ▼ -0.04 (-0.97%)
MLCF 38.60 Increased By ▲ 0.19 (0.49%)
NBP 53.60 Increased By ▲ 0.75 (1.42%)
OGDC 130.60 Decreased By ▼ -2.29 (-1.72%)
PAEL 25.36 Decreased By ▼ -0.29 (-1.13%)
PIBTL 6.25 Decreased By ▼ -0.13 (-2.04%)
PPL 118.90 Decreased By ▼ -0.60 (-0.5%)
PRL 23.95 Decreased By ▼ -0.65 (-2.64%)
PTC 12.92 Increased By ▲ 0.28 (2.22%)
SEARL 59.11 Decreased By ▼ -0.49 (-0.82%)
TELE 7.43 Decreased By ▼ -0.06 (-0.8%)
TOMCL 34.99 Decreased By ▼ -0.16 (-0.46%)
TPLP 8.72 Decreased By ▼ -0.13 (-1.47%)
TREET 15.90 Increased By ▲ 0.10 (0.63%)
TRG 55.95 Decreased By ▼ -1.95 (-3.37%)
UNITY 34.95 Increased By ▲ 0.06 (0.17%)
WTL 1.20 Decreased By ▼ -0.02 (-1.64%)
BR100 8,536 Decreased By -8.5 (-0.1%)
BR30 27,187 Decreased By -204 (-0.74%)
KSE100 79,944 Decreased By -48.3 (-0.06%)
KSE30 25,500 Decreased By -43.9 (-0.17%)

LONDON: Arabica coffee futures slid to a four-month low on Tuesday, while sugar and cocoa prices were also down sharply, dragged down by weakness in crude oil and many other commodity markets.

Coffee

May arabica coffee fell 2.5% to $2.1325 per lb by 1223 GMT, after touching a four-month low of $2.1320.

Dealers said funds were continuing to liquidate long positions, with favourable crop weather in top producer Brazil adding to the bearish mood.

The outlook on prices charts also appeared bearish after the market’s weak recent performance.

May robusta coffee fell 1.6% to $2,082 a tonne.

Raw sugar falls as Russia-Ukraine peace talks weigh on oil

Sugar

May raw sugar fell 2.4% to 18.67 cents per lb, weighed predominately by the sharp decline in crude oil prices.

Weaker energy prices reduce the incentive to use sugar cane to produce biofuel ethanol and that can lead to increased production of the sweetener.

The strong pace of exports from India has also helped to put the market on the defensive.

Indian sugar exports are seen climbing to 7.5 million tonnes in the 2021/22 season, up from the prior season’s 7.1 million, Abinash Verma, director general of the Indian Sugar Mills Association, said on Tuesday.

“We believe that we have signed contracts for 6.3 million tonnes in the current season already and contracts are getting signed pretty fast in India every week,” Verma told a sugar conference in Dubai.

May white sugar fell 2.0% to $519.40 a tonne.

Cocoa

May London cocoa fell 2.5% to 1,739 pounds a tonne.

Dealers said an improving outlook for the mid-crop in top grower Ivory Coast contributed to weakness.

May New York cocoa fell 2.4% to $2,548 a tonne.

Comments

Comments are closed.