Yesterday’s closing dated –02/11/2023
◾London White Sugar – 745.00s -4.40
◾NYBOT Raw Sugar #11 – 27.48s -0.03
◾USD/BRL- 4.9543 +0.0004
◾USD/INR – 83.24 (-0.0375)
◾Brent Crude – 86.85(+2.22)
◾BSE Sensex – 64080.90 (+489.57)
◾NIFTY50 – 19133.25 (+144.10)
Sugar prices Thursday posted modest losses as they consolidated below recent highs. Last Wednesday, NY sugar posted a 12-year nearest-futures high on the outlook for tighter global sugar supplies. Last Monday, the International Sugar Organization (ISO) forecasted that 2023/24 global sugar production (Oct-Sep) will fall -1.2% y/y to 174.8 MMT, and there will be a 2023/24 global sugar deficit of -2.1 MMT.
