AIRLINK 204.45 Increased By ▲ 3.55 (1.77%)
BOP 10.09 Decreased By ▼ -0.06 (-0.59%)
CNERGY 6.91 Increased By ▲ 0.03 (0.44%)
FCCL 34.83 Increased By ▲ 0.74 (2.17%)
FFL 17.21 Increased By ▲ 0.23 (1.35%)
FLYNG 24.52 Increased By ▲ 0.48 (2%)
HUBC 137.40 Increased By ▲ 5.70 (4.33%)
HUMNL 13.82 Increased By ▲ 0.06 (0.44%)
KEL 4.91 Increased By ▲ 0.10 (2.08%)
KOSM 6.70 No Change ▼ 0.00 (0%)
MLCF 44.31 Increased By ▲ 0.98 (2.26%)
OGDC 221.91 Increased By ▲ 3.16 (1.44%)
PACE 7.09 Increased By ▲ 0.11 (1.58%)
PAEL 42.97 Increased By ▲ 1.43 (3.44%)
PIAHCLA 17.08 Increased By ▲ 0.01 (0.06%)
PIBTL 8.59 Decreased By ▼ -0.06 (-0.69%)
POWER 9.02 Decreased By ▼ -0.09 (-0.99%)
PPL 190.60 Increased By ▲ 3.48 (1.86%)
PRL 43.04 Increased By ▲ 0.98 (2.33%)
PTC 25.04 Increased By ▲ 0.05 (0.2%)
SEARL 106.41 Increased By ▲ 6.11 (6.09%)
SILK 1.02 Increased By ▲ 0.01 (0.99%)
SSGC 42.91 Increased By ▲ 0.58 (1.37%)
SYM 18.31 Increased By ▲ 0.33 (1.84%)
TELE 9.14 Increased By ▲ 0.03 (0.33%)
TPLP 13.11 Increased By ▲ 0.18 (1.39%)
TRG 68.13 Decreased By ▼ -0.22 (-0.32%)
WAVESAPP 10.24 Decreased By ▼ -0.05 (-0.49%)
WTL 1.87 Increased By ▲ 0.01 (0.54%)
YOUW 4.09 Decreased By ▼ -0.04 (-0.97%)
BR100 12,137 Increased By 188.4 (1.58%)
BR30 37,146 Increased By 778.3 (2.14%)
KSE100 115,272 Increased By 1435.3 (1.26%)
KSE30 36,311 Increased By 549.3 (1.54%)
Markets

Raw sugar futures slide; arabica coffee also down

  • July raw sugar fell by 0.58 cents, or 3.3%, to 16.96 cents per lb.
  • August white sugar fell by $10.30, or 2.3%, to $441 a tonne.
Published June 14, 2021

LONDON: Raw sugar futures on ICE slid to a more than two-week low on Monday, weakened partly by improving crop outlooks in several key producing countries, while arabica coffee prices also fell.

SUGAR

July raw sugar fell by 0.58 cents, or 3.3%, to 16.96 cents per lb by 1348 GMT after slipping to 16.93 cents, the weakest level since May 27.

Dealers said supplies appeared ample, boosted by the strong pace of production in Centre-South Brazil, while the prospects for 2021/22 season crops in key Asian producers India and Thailand were favourable.

Commodity trader and supply chain services company Czarnikow on Monday forecast a global surplus of 1.5 million tonnes in 2021/22 and 2.7 million tonnes in the current 2020/21 season, driven by rising production.

Rains in India have helped to improve the production outlook.

"Cane growing conditions remain promising (in India) with plenty of rain. It was India's second-wettest May in over 100 years and the monsoon rains have arrived on time," Czarnikow said, adding that Indian production should exceed 30 million tonnes in 2021/22 for the second consecutive season.

Speculators have also been scaling back net long positions in both raw sugar and arabica coffee.

August white sugar fell by $10.30, or 2.3%, to $441 a tonne.

COFFEE

September arabica coffee fell by 4.25 cents, or 2.7%, to $1.5535 per lb.

Dealers noted there had been some rain in Brazilian coffee areas and more was forecast during the next few days, though dry conditions in the world's top producer remained a concern.

September robusta coffee fell by $31, or 1.9%, to $1,588 a tonne.

COCOA

September London cocoa rose by 4 pounds, or 0.25%, to 1,626 pounds a tonne.

Above-average rainfall was recorded in Ivory Coast's cocoa regions last week, raising expectations for a strong finish of the April-to-September mid-crop cocoa harvest, farmers said on Monday.

September New York cocoa rose by $13, or 0.5%, to $2,415 a tonne.

Comments

Comments are closed.