Morning Market Update- 20/10/2023

Yesterday’s closing dated –19/10/2023

◾London White Sugar – 737.80s (-4.00)

◾NYBOT Raw Sugar #11 – 27.29s (-0.19)

◾USD/BRL- 5.0648 (+0.0003)

◾USD/INR – 83.2450 (-0.0125)

◾Brent Crude – 92.38 (+0.88)

◾BSE Sensex – 65629.24 (-247.78)

◾NIFTY50 – 19624.70 (-46.40)

Sugar prices on Thursday posted moderate losses after India’s Food Secretary said his country is not likely to face any shortage of sugar in the domestic market, which opens up the possibility it may resume sugar exports. Indian Food Secretary Chopra said India’s sugar reserves as of Oct 1 totaled 5.7 MMT, enough to meet demand for 2-1/2 months, and that it will decide whether to allow sugar exports after assessing its cane production.


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