Sugar quotes on the US ICE exchange interrupted a four-month rally
Cocoa Bean
Published Feb 27, 2023
Tridge summary
From February 17 to February 24, the ICE exchange saw an increase in coffee quotations and a fall in sugar and cocoa quotations, KazakhZerno.kz reports. In February, sugar becomes cheaper after a rally that lasted from late September to January. In 4 months, it has risen in price by 22%, and in February it lost less than 1% from those high prices. Some analysts see the reason for its fall in the fact that its production is growing, while others believe that the market will “recharge” due to a deeper technical rollback.
Original content
From February 17 to 24, the ICE exchange observed an increase in coffee quotations and a fall in sugar and cocoa quotations, KazakhZerno.kz reports. In February, sugar becomes cheaper after a rally that lasted from late September to January. In 4 months, it has risen in price by 22%, and in February it lost less than 1% from those high prices. Some analysts see the reason for its fall in the fact that its production is growing, while others believe that the market will “recharge” due to a deeper technical rollback. After a 4-month rally, prices are coming down as promising sugarcane crops from Brazil to Thailand are expected. Investors, fearful of production growth, switched to profit-taking. As a result, over the week on the ICE exchange, cocoa quotes fell from $2,722 to $2,707 per ton, or 0.55%, coffee quotes rose from $1.887 to $1.912 per pound, or 1.32%, sugar quotes fell from 0.2141 to 0. .2128 dollars per pound or 0.61%. Dynamics of coffee, cocoa and sugar on the ICE ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.