AIRLINK 63.43 Increased By ▲ 0.23 (0.36%)
BOP 5.46 Increased By ▲ 0.06 (1.11%)
CNERGY 4.68 Increased By ▲ 0.11 (2.41%)
DFML 19.02 Decreased By ▼ -0.71 (-3.6%)
DGKC 70.29 Increased By ▲ 1.29 (1.87%)
FCCL 19.12 Increased By ▲ 0.87 (4.77%)
FFBL 30.86 Increased By ▲ 1.47 (5%)
FFL 9.58 Increased By ▲ 0.27 (2.9%)
GGL 10.16 No Change ▼ 0.00 (0%)
HBL 109.20 Decreased By ▼ -0.86 (-0.78%)
HUBC 127.70 Increased By ▲ 1.69 (1.34%)
HUMNL 6.85 Increased By ▲ 0.12 (1.78%)
KEL 4.39 Decreased By ▼ -0.08 (-1.79%)
KOSM 4.43 Decreased By ▼ -0.02 (-0.45%)
MLCF 37.39 Increased By ▲ 0.79 (2.16%)
OGDC 128.50 Increased By ▲ 0.20 (0.16%)
PAEL 22.80 Decreased By ▼ -0.39 (-1.68%)
PIAA 26.50 Increased By ▲ 0.30 (1.15%)
PIBTL 6.19 Increased By ▲ 0.19 (3.17%)
PPL 112.52 Decreased By ▼ -0.28 (-0.25%)
PRL 26.85 Decreased By ▼ -0.30 (-1.1%)
PTC 16.75 Decreased By ▼ -0.34 (-1.99%)
SEARL 60.72 Decreased By ▼ -1.37 (-2.21%)
SNGP 65.35 Increased By ▲ 1.40 (2.19%)
SSGC 11.05 Increased By ▲ 0.02 (0.18%)
TELE 9.10 Decreased By ▼ -0.13 (-1.41%)
TPLP 11.28 Increased By ▲ 0.28 (2.55%)
TRG 69.85 Decreased By ▼ -1.10 (-1.55%)
UNITY 23.65 Decreased By ▼ -0.30 (-1.25%)
WTL 1.31 Decreased By ▼ -0.07 (-5.07%)
BR100 7,280 Increased By 64.2 (0.89%)
BR30 23,637 Increased By 105.1 (0.45%)
KSE100 70,315 Increased By 694.7 (1%)
KSE30 23,132 Increased By 221.5 (0.97%)

LONDON: Raw sugar futures on ICE fell on Wednesday, reversing gains from the prior session as they came under pressure from a weak Brazilian real and Brazilian President Jair Bolsonaro’s attempts to contain local energy prices.

SUGAR

July raw sugar fell 0.9% to 18.38 cents per lb at 1307 GMT, after gaining 1.3% at Tuesday’s close.

The Brazilian real was near its weakest versus the dollar in nearly five months, tempting producers to sell dollar-priced sugar by raising returns in local currency terms.

Dealers said sugar is also under pressure from Bolsonaro’s attempts to curb energy prices by cutting taxes ahead of the presidential elections.

Low energy prices can weigh on ethanol, tempting Brazilian cane mills to produce more sugar and less of the cane-based biofuel.

Limiting sugar’s losses however, Brazil’s sugarcane crush data released on Tuesday showed sugar output at 2.14 million tonnes in the first half of June, a 3.8% drop from a year ago.

August white sugar fell 0.6% to $549.20 a tonne.

COFFEE

September arabica coffee rose 0.4% to $2.1865 per lb, after falling 2% in the prior session.

Dealers said there was no risk of crop-threatening cold in Brazil’s coffee areas over the next two weeks and overall dry weather would favour harvesting.

September robusta coffee slipped 0.1% to $2,016 a tonne.

Coffee exports in top robusta producer Vietnam are estimated to have increased 21.7% in the first six months of this year from a year earlier, government data showed.

COCOA

September New York cocoa fell 0.6% to $2,388 a tonne.

A federal judge in Washington, D.C. on Tuesday dismissed a lawsuit by eight citizens of Mali who sought to hold Hershey Co , Nestle, Cargill Inc and others liable for child slavery on Ivory Coast cocoa farms. September London cocoa fell 0.8% to 1,724 pounds per tonn.

Comments

Comments are closed.