Yesterday’s closing dated –25/10/2023
◾London White Sugar – 746.60s (+1.10)
◾NYBOT Raw Sugar #11 – 27.63s (+0.10)
◾USD/BRL- 4.9962 (0.0000)
◾USD/INR – 83.18 (-0.0125)
◾Brent Crude – 90.13 (+2.06)
◾BSE Sensex – 64,049.06 (-522.82)
◾NIFTY50 – 19,122.15 (-159.60)
Sugar prices on Wednesday posted moderate gains, with NY sugar climbing a 12-year nearest-futures high and London sugar climbing to a 6-week 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.
