Yesterday’s closing dated –11/12/2023
◾London White Sugar – 637.70s -(16.70)
◾NYBOT Raw Sugar #11 – 22.47s (-0.89)
◾USD/BRL- 4.9391 (+0.0005)
◾USD/INR – 83.3925 (+0.0075)
◾Brent Crude – 76.03 (+0.19)
◾BSE Sensex – 69,928.53 (+102.93)
◾NIFTY50 – 20,997.10 (+27.70)
Sugar prices Monday sold off to 5-1/2 month lows on improving global supplies. Last week, India’s food ministry directed local sugar mills to stop using sugar cane juice and syrup to produce ethanol in the 2023/24 supply year to boost sugar reserves. Green Pool Commodity Specialists said this could add 2 MMT of sugar to India’s domestic supplies.
