Raw sugar falls between large delivery, posts 8.4% weekly losses

Raw sugar falls between large delivery, posts 8.4% weekly losses


(Add the prices of comments and closing)

New York, 28 February (Reuters) –

On Friday, raw sugar futures fell on ice with focus on the end of the march contract, while coffee and cocoa were also closed.

* Raw sugar futures settled 0.18 percent, or 0.9%, 19.51 cents per LB. The contract lost 8.4% a week.

* Dealers said that the premium for march contract for May

Before its end on Friday, the first of this week fell to about 0.59 cents as high as 1.61 cents.

* Delivery of raw sugar at the end of March contract was seen on Friday at 34,385 lots, or 1.74 million metric tonnes, according to preliminary information from the traders.

* Larger delivery is usually seen as a recession for the market.

* White sugar fell to 1.3% $ 532.60 at a metric ton, which was 4.9% lost weekly.

* Indian mills produced 21.98 million metric tonnes of sugar between October 1 and February 28, said 14% below last year, Maharashtra and Karnataka, an industry body said on less production from major producing states.

* New York Coco settled at $ 131, or 1.4%, $ 9,124 per ton. It was flat for the week.

* BMI said in a note that there were concerns that demand was decreasing in height prices. Prices have been three times in the last two years.

* The International Coco Organization will have a global coco surplus of 142,000 MT in the 2024/25 season (October-September) on Friday forecast.

* London cocoa fell 1.5% to 7,342 pounds per tonne.

* Arabica coffee had changed very little on $ 3.7305 per LB. Contracts lost 4.1% a week.

* Dealers stated that the market stabilized after tambling from a record peak of $ 4.2995 on Wednesday, set on 11 February, at a low of $ 3.6630 on Wednesday.

* Robusta coffee fell 0.9% at $ 5,330 per ton, lost 7% a week. ,

Leave a Reply

Your email address will not be published. Required fields are marked *

x