Yesterday’s closing dated –24/10/2023
◾London White Sugar – 745.50s (+2.70)
◾NYBOT Raw Sugar #11 – 27.53s (+0.05)
◾USD/BRL- 4.9928 (+0.0021)
◾USD/INR – 83.19 (+0.0700)
◾Brent Crude – 88.07 (-1.76)
◾BSE Sensex – 64,571.88 (-825.74)
◾NIFTY50 – 19,281.75 (-260.90)
Sugar prices on Tuesday closed moderately higher, with NY sugar posting a 12-year nearest-futures high. The outlook for tighter global sugar supplies is bullish for prices. On Monday, the International Sugar Organization (ISO) forecasted that 2023/24 global sugar production (Oct-Sep) will fall -1.2% y/y to 174.8 MMT, and there will be a 2023/24 global sugar deficit of -2.1 MMT.
