Yesterday’s closing dated –12/01/2024
◾London White Sugar – 618.20s (-4.70)
◾NYBOT Raw Sugar #11 – 21.61s (-0.15)
◾USD/BRL- 4.8544 (-0.0156)
◾USD/INR – 82.9225 (-0.1050)
◾Brent Crude – 78.29 (+0.88)
◾BSE Sensex – 72,568.45 (+847.27)
◾NIFTY50 – 21,894.55 (+247.35)
March NY world sugar #11 (SBH24) on Friday closed down -0.15 (-0.69%), and March London ICE white sugar #5 (SWH24) closed down -4.70 (-0.75%).
Sugar prices on Friday closed lower on negative carryover from Thursday when Unica reported Brazil’s Center-South sugar output jumped +35.6% y/y in the second half of December to 236,000 MT.
A supportive factor for sugar was Friday’s rally in the Brazilian real (^USDBRL) to a 2-week high against the dollar, discouraging export selling from Brazil’s sugar producers.
