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: Raw sugar futures on ICE rose on Friday, heading back towards last week’s multi-year highs on still tight supplies near term, while coffee and cocoa also gained.

SUGAR

July raw sugar rose 1.2% to 25.82 cents per lb at 1216 GMT, having hit an 11-1/2 year peak last week. Dealers said the correction seen since last week’s highs were set seems to have run its course, with lots of buying interest below 25 cents.

They expect the market to remain firm near term given tight supplies in India, Thailand, China and the European Union. Further out though, sugar prices should face some pressure. Output in top producer Brazil’s center-south region is seen growing 13% year-on-year to 38.3 million tonnes in the upcoming season, near record levels, consultancy Datagro said. However, trader Sucden expects port congestion in Brazil will cap sugar exports at a maximum 2.8 million tonnes a month. August white sugar rose 0.6% to $702.40 a tonne.

COFFEE

July arabica coffee rose 2.3% to $1.8720 per lb, having hit a 3-1/2 week low on Thursday. Arabica supply remains tight as top producer Brazil’s harvest is only starting to get underway.

Also, dealers say farmers there are finding beans on the ground following last month’s strong rains. Against that however, there are growing concerns over coffee demand given the macro-economic headwinds. J

uly robusta coffee fell rose 1.7% to $2,452 a tonne, having hit a 12-year high last week. Demand for robusta is solid given historically high arabica prices, while supply in top producer Vietnam remains tight.

There are however some signs export prices in Vietnam have peaked given the recent highs.

COCOA

July London cocoa rose 0.8% to 2,217 pounds per tonne?, extending a retreat from last week’s 6-1/2 year high. * July New York cocoa rose 1% to $2,934 a tonne.

Comments

Comments are closed.