[ad_1]
Adds quote, updates prices
LONDON, Oct 28 (Reuters) – Arabica coffee futures on ICE fell to a 14-month low on Friday, pressured by an improving outlook for next year’s crop in Brazil and concern that a global economic downturn could curb demand.
COFFEE
* December arabica coffee KCc1 fell 1.8% to $1.7560 per lb by 1339 GMT after touching a 14-month low of $1.7350.
* “Coffee prices continue to be pressured by an improving crop outlook in the top producer Brazil and concerns over demand in Europe amid a broad economic slowdown,” Fitch Solutions said in a note.
* January robusta coffee LRCc2 fell 0.3% to $1,873 a tonne after dipping to a 14-month low of $1,870.
* Indonesia exported 53,269 tonnes of Sumatran robusta coffee in September, data from a local trade office showed, more than double shipments in the same month a year earlier.
SUGAR
* March raw sugar SBc1 fell 0.4% to 17.64 cents per lb after dipping to a three-week low of 17.60 cents.
* Dealers said the prospect of a global surplus in the current 2022/23 season continued to keep the market on the defensive, though short-term supplies remain tight.
* December white sugar LSUc1 fell 0.3% to $515.80 a tonne.
COCOA
* December New York cocoa CCc1 rose 0.2% to $2,319 a tonne.
* March London cocoa LCCc2 fell 0.4% to 1,861 pounds a tonne.
(Reporting by Nigel Hunt; Editing by David Goodman and David Holmes)
((nigel.hunt@thomsonreuters.com; +44 (0) 7990 561421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
[ad_2]
Source link
