AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

LONDON: London cocoa futures on ICE fell on Tuesday, drifting down towards the prior session's more than one-year low, while sugar and coffee prices also weakened.

September London cocoa was down 13 pounds, or 0.8%, to 1,687 pounds per tonne at 1356 GMT, after dipping to a low of 1,660 pounds on Monday, its weakest since May 2019.

"Prices are being depressed by fears that the corona restrictions and resulting global economic downturn could dampen demand for cocoa even in the longer term," Commerzbank said in a daily market update.

"What is more, traders expect the premium of $400 per ton that will be payable on the exchange price from the coming season when cocoa is purchased in Ivory Coast and Ghana will additionally put the brakes on demand."

September New York cocoa fell $2, or 0.1%, to $2,268 a tonne. July raw sugar was down 0.15 cents, or 1.3%, at 11.77 cents per lb as the market continued to lack a clear trend after the rally which took prices to a three-month high of 12.27 cents set earlier this month ran out of steam.

August white sugar fell $3.80, or 1.0%, to $360.70 a tonne.

French sugar maker Cristal Union, Europe's fourth-largest sugar group, reported a net loss of 89 million euros ($100 million) for its 2019/20 financial year, reflecting low sugar prices and exceptional costs.

September arabica coffee fell 0.05 cents, or 0.05%, to 97.95 cents per lb, having hit a nine-month low of 94.55 cents last week. September robusta coffee fell $3, or 0.25%, to $1,185 a tonne.

Comments

Comments are closed.