Yesterday’s closing dated –01/12/2023
◾London White Sugar – 696.80s (-20.30)
◾NYBOT Raw Sugar #11 – 25.09s (-0.95)
◾USD/BRL- 4.8804 (-0.0401)
◾USD/INR – 83.2875 (-0.1075)
◾Brent Crude – 78.88 (-1.98)
◾BSE Sensex – 67,481.19 (+492.75)
◾NIFTY50 – 20,267.90 (+134.75)
Sugar prices on Friday extended this week’s sell-off, with NY sugar falling to a 3-month low and London sugar falling to a 2-month low. Increased sugar production in Brazil alleviated supply concerns and sparked fund selling of sugar. On Wednesday, Conab raised its 2023/24 Brazil sugar production estimate by +15% to 46.9 MMT from an August estimate of 40.9 MMT.
