Yesterday’s closing dated –03/01/2024
◾London White Sugar – 600.80s (-4.20)
◾NYBOT Raw Sugar #11 – 20.85s (-0.05)
◾USD/BRL- 4.9203 (0.0000)
◾USD/INR – 83.2825 (-0.0350)
◾Brent Crude – 78.25 (+2.36)
◾BSE Sensex – 71,356.60 (-535.88)
◾NIFTY50 –21,517.35 (-148.45)
Sugar prices on Wednesday gave up an early advance and posted modest losses as weakness in the Brazilian real (^USDBRL) weighed on sugar prices. The real Wednesday fell to a 2-week low against the dollar, encouraging export selling by Brazil’s sugar producers.
Sugar prices Wednesday initially moved higher on positive carryover from Tuesday on signs of smaller sugar production in India after the National Federation of Cooperative Sugar Factories reported India’s sugar production from Oct 1-Dec 31 fell -7.6% y/y to 11.2 MM
