Yesterday’s closing dated –27/11/2023
◾London White Sugar – 745.60s (+7.60)
◾NYBOT Raw Sugar #11 – 27.20s (+0.22)
◾USD/BRL- 4.8969 (-0.0051)
◾USD/INR – 83.36 (+0.0250)
◾Brent Crude – 79.98 (-0.60)
◾BSE Sensex – 65,970.04 (-47.77) (Friday close)
◾NIFTY50 – 19,794.70 (-7.30) (Friday close)
Sugar prices on Monday recovered from early losses and closed moderately higher as a weaker dollar sparked short-covering in sugar futures. Sugar prices on Monday initially moved lower on increased sugar production in Brazil. Unica on Monday reported that Brazil Center-South sugar output in the first half of November rose +30.9% y/y to 2.19 MMT and that sugar output in the 2023/24 crop year through mid-November rose +23.1% y/y to 39.412 MMT. Also, 49.41% of the crushed sugarcane was used for sugar production this year, an increase from 45.97% last year.
The Indian stock market remained closed on November 27, on account of Guru Nanak Jayanti.
