Cocoa price increases to a maximum of 4 weeks at snow, gross sugar progress
Coco’s future deals in London and New York have increased on Wednesday, up to a maximum of four weeks, due to an increase in the possibility of a bad intermediate crop in the Ivory Coast, the largest producer.
Gross sugar has also recorded strong profits.
Coco
* Cocoa in London rose to 517 pounds or 8.3%to 6,781 pounds per metric ton, which is the highest value since March 5.
* New York Coco rose 9.7%to $ 8,968 a ton, which is the highest price since the end of February.
* The market shows the first signs that traders have left their recent trading range.
* The perspective of the bad intermediate crop in the Ivory Coast remains a supporting factor.
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* Ivory Coast officials said the country would have the worst intermediate product in the last 10 years due to the exceptionally long dry period.
* Ivory Coast 2024/2025 The state has increased the guaranteed price by 22%, paid to cocoa producers, to increase the income of producers.
Cafe
* Arabica’s coffee fell 0.2%or 0.1%to $ 3.8885 per pound.
* The largest producer Brazil has been focusing on the mood, where there have been some rains in coffee areas, but we have to rain more.
* After making a crop trip in the country, Rabobank said in a note that Brazilian production would be smaller than expected. The Dutch Bank said it would reveal new expectations soon.
* Traders said that the demand for retail prices has begun to decline, however, limits profits.
* Strong coffee fell 0.1%, tonnes, at 4 5,400.
Sugar
* Gross sugar rose 0.24 cents or 1.2%to 19.59 cents per pound.
* Dry weather in Brazil is a concern and that the new crop development is weakening, traders said.
* By the time of Rabobank 2025/26, 595 million tonnes of sugar cane of Brazil, and sugar production at 41 million tonnes.
* The Sugarcane Producers Association in Brazil, Brazil, estimated a production of 605 to 618 million tonnes, in the previous crop at 630 to 640 million tonnes.
* White sugar increased by 1.3%per ton 2 552.90.
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