Yesterday’s closing dated –09/01/2024
◾London White Sugar – 622.60s (+0.90)
◾NYBOT Raw Sugar #11 – 21.70s (-0.04)
◾USD/BRL- 4.9072 (+0.0034)
◾USD/INR – 83.1150 (-0.0025)
◾Brent Crude – 77.59 (+1.47)
◾BSE Sensex – 71,386.21 (+30.99)
◾NIFTY50 – 21,544.85 (+31.85)
March NY world sugar #11 (SBH24) on Tuesday closed down -0.04 (-0.18%), and March London ICE white sugar #5 (SWH24) closed up +0.90 (+0.14%).
Sugar prices on Tuesday settled mixed, with London sugar posting a 3-week high. Global sugar supply concerns have sparked fund buying and are supporting prices. Last Tuesday, the National Federation of Cooperative Sugar Factories reported that India’s sugar production from Oct 1-Dec 31 fell -7.6% y/y to 11.2 MMT.
