20th August 2014
There were new lows for sugar in commodity trading yesterday, while cocoa stayed close to the more-than-three-year high it experienced in the previous session.
For the sweetener, it was hit by a double whammy of slow physical demand and worldwide stockpiles growing. Traders pointed towards sugar being processed in Brazil at a very quick rate as being one of the main drivers, while investors weren't biting even as the physical price decreased.
Cocoa also decreased in price slightly yesterday, but having hit a new over-three-year high on Monday, it wasn't anything to be too concerned about.
Coffee completed the set of weakening softs in commodity trading, with Arabica slipping as CoffeeNetwork has maintained its crop forecast for the current season. The organisation also reckons that top Robusta grower Vietnam will produce more than previously expected, leading to fall in the bean's price during Tuesday's session.
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