AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,596 Increased By 136 (0.53%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

LONDON: Raw sugar futures on ICE fell sharply on Friday, weighed by the weakness of Brazil’s real currency and news that sugar production in the key Centre-South region of Brazil was stronger than expected during the second half of May.

Brazil is the world’s top producer of sugar and a weaker real usually prompts selling as it raises returns in local currency terms.

SUGAR

July raw sugar was down 2.2% at 18.86 cents per lb at 1451 GMT.

Brazil’s center-south sugarcane crushing totaled 43.69 million tonnes in the second half of May, industry group Unica said on Friday, while sugar output reached 2.31 million tonnes.

Dealers said both cane crushing and sugar production were higher than had been expected.

They noted that strong exports and an improving production outlook in India also continued to keep a lid on prices.

“This is probably one reason why the sugar price has been unable to lastingly exceed the 20 cents per pound mark,” Commerzbank said in a note.

August white sugar fell 2.6% to $563.50 a tonne.

COFFEE

September arabica coffee fell 2.9% to $2.28 per lb.

Dealers said the weakness of Brazil’s real also weighed on coffee prices. The currency is set for its worst weekly decline in more than two years. September robusta coffee fell 1.2% to $2,083 a tonne. The US Department of Agriculture Foreign Agricultural Service said coffee production in Vietnam was expected to total 30.93 million bags in 2022/23, down from the previous season’s 31.58 million bags.

“Although production is slightly lower than the previous year, the 2022/23 crop is also considered a good year for coffee production thanks to favorable weather conditions,” the report on the world’s top robusta producer said.

COCOA

September New York cocoa fell 1.5% to $2,437 a tonne. September London cocoa fell 0.2% to 1,758 pounds per tonne.

Comments

Comments are closed.