Yesterday’s closing dated –15/12/2023
◾London White Sugar – 626.80s (-3.80)
◾NYBOT Raw Sugar #11 – 21.99s (-0.19)
◾USD/BRL- 4.9376 (+0.0221)
◾USD/INR – 83.0000 (-0.3300)
◾Brent Crude – 76.55 (-0.06)
◾BSE Sensex – 71,483.75 (+969.55)
◾NIFTY50 – 21,456.65 (+273.95)
Sugar prices Friday posted moderate losses but remained above Thursday’s 8-1/2 month lows. Sugar prices have been under pressure for the last five weeks as Brazil ramps up sugar output. On Tuesday, Unica reported Brazil’s Center-South sugar output rose +35% y/y in the second half of November and that sugar output in the 2023/24 crop year through November rose +23.5% y/y to 40.817 MMT. Meanwhile, Brazil exported 3.7 MMT of sugar in November, marking a new record for the month.
