US: White sugar drops by 1 percent after 6-month peak; Robusta coffee goes up

Published 2023년 3월 23일

Tridge summary

White sugar prices on the ICE fell 1% despite reaching a six-month high due to uncertainty in production in India and Thailand. Robusta coffee prices rose. Trading company Czarnikow predicts that Brazil's sugar production will be the second highest on record. Meanwhile, coffee trade in Vietnam has been slow due to low inventories. May arabica coffee prices fell by 2.1%.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(Reuters) - White sugar ended up 1% lower on the ICE on Thursday after reaching a six-month high earlier in the session amid uncertainty over production in India and Thailand, while robusta coffee rose. SUGAR *May white sugar fell 6.10, or 1.0%, to $597.80 a tonne after setting a six-month high of $608.10. * Traders say the fundamental scenario remains more optimistic than pessimistic, with many questions unanswered about production from major producers in India and Thailand. * Looking ahead, however, trading company Czarnikow said it expects sugar production in Brazil, the top producer, to be 37.6m tonnes this season, the second highest on record. * Raw sugar for May was down 25 cents, or 1.2%, to 20.89 cents a pound. COFFEE * Robusta coffee for May closed up $12, or 0.6%, at $2,124 a tonne, hitting more than a month lows on Monday. * ...
Source: Mixvale

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