Raw sugar futures on ICE rallied on Monday, hitting their highest in a week and a half as funds covered their record net short positions and oil prices soared after a major attack on Saudi Arabian oil facilities. Cocoa prices hit 1-1/2 month highs.
October raw sugar was up 0.22 cents, at 11.11 cents per lb by 1050 GMT, having earlier hit a 1-1/2 week high of 11.19.
October white sugar was up $5.80,at $326.41 per tonne.
December New York cocoa was up $10, at $2,347 a tonne, having hit $2,350, its highest level in a month and a half.
December London cocoa rose £16 pounds, to £1,806 pounds a tonne, having hit a 1-1/2 month high of 1,814 pounds.
December arabica rose 0.6 cents, to $1.0335 per lb.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.