LONDON: Raw sugar and arabica coffee futures on ICE were lower on Monday, weighed partly by renewed weakness in the currency of Brazil, the top producer of both commodities.
A weaker real encourages Brazilian exporters to sell dollar-priced commodities such as sugar and coffee because it raises their returns in local currency terms.
May raw sugar fell by 0.14 cents, or 0.9%, to 15.62 cents per lb at 1427 GMT.
May white sugar fell by $2.10, or 0.5%, to $451.30 a tonne.
May arabica coffee fell by 1.25 cents, or 1.0%, to $1.2775 per lb after dipping to a two-week low of $1.2690.
May robusta coffee fell by $4, or 0.3%, to $1,376 a tonne.
May London cocoa fell by 4 pounds, or 0.2%, to 1,732 pounds a tonne.
May New York cocoa rose by $9, or 0.4%, to $2,502 a tonne.
Comments
Comments are closed.