Morning Market Update- 21/11/2023

Yesterday’s closing dated –20/11/2023

◾London White Sugar – 746.40s (+9.80)

◾NYBOT Raw Sugar #11 – 27.56s (+0.38)

◾USD/BRL- 4.8548 (0.0005)

◾USD/INR – 83.34 (+0.0700)

◾Brent Crude – 82.32 (+1.71)

◾BSE Sensex – 65,655.15 (-139.58)

◾NIFTY50 – 19,694.00 (-37.80)

Sugar prices on Monday settled moderately higher, with London sugar posting a 1-week high. Heavy rain in Europe has flooded fields and has delayed sugar beet production, threatening to tighten global sugar supplies further. France recently received 32 straight days of rainfall, the longest stretch since 1998. Almost 50% of France’s sugar beets remain unharvested due to flooded fields, and if the fields don’t dry soon to allow fieldwork, the remainder of the beet crop might be damaged from frost.



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