AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)
Markets

Robusta sets fresh four-year high, New York cocoa hits nine-month peak

  • November robusta coffee was down 0.1% to $2,100 a tonne
  • December New York cocoa was flat at $2,704 a tonne, having hit a fresh nine month high of $2,715
Published September 8, 2021

LONDON: Robusta coffee futures on ICE rose to a fresh four-year high on Wednesday amid signs of tightening supplies, while New York cocoa futures hit a nine-month peak.

Coffee

November robusta coffee was down 0.1% to $2,100 a tonne at 1308 GMT, after setting a four-year high of $2,130.

Dealers cited falling ICE exchange stocks, increased demand from roasters for robusta instead of its pricier arabica counterpart, as well as continued shipping backlogs, including out of top robusta producer Vietnam, as supportive factors.

"For the time being, there is no foreseeable alleviation to the international squeeze on global supply chains," said trader I&M Smith.

Strict measures to stop the spread of COVID-19 in Vietnam are prompting further supply jitters.

December arabica coffee rose 0.2% to $1.9425 per lb.

London cocoa hits fresh six-month high

Cocoa

December New York cocoa was flat at $2,704 a tonne, having hit a fresh nine month high of $2,715.

December London cocoa rose 0.2% to 1,838 pounds per tonne, after matching Tuesday's nine-month peak of 1,843.

Cocoa is gaining from the prospect of improved demand in the upcoming 2021/22 season (October/September), coupled with an expected drop in supply that should leave the market more or less balanced.

Dealers cited a lack of hedging pressure in the market, with top producer Ivory Coast having pre-sold much of its cocoa for the 2021/22 season. SUGAR

October raw sugar rose 0.9% to 19.65 cents per lb, having hit a two-week low on Tuesday at 19.44.

Sugar has been trading range bound of late, with lower production from top producer Brazil already priced in.

October white sugar rose 0.6% to $485.60 a tonne.

Comments

Comments are closed.