Yesterday’s closing dated –05/12/2023
◾London White Sugar – 691.50s (-18.00)
◾NYBOT Raw Sugar #11 – 24.96s (-0.85)
◾USD/BRL- 4.9287 (-0.0019)
◾USD/INR – 83.3825 (+0.0175)
◾Brent Crude – 77.20 (-0.83)
◾BSE Sensex – 69,296.14 (+431.02)
◾NIFTY50 – 20,855.10 (+168.30)
Sugar prices Tuesday fell sharply but remained above Monday’s significant lows. On Monday, NY sugar posted a 3-1/4 month low, and London sugar posted a 2-month low, as an increase in Brazil’s sugar production alleviated supply concerns. Last Wednesday, Conab raised its 2023/24 Brazil sugar production estimate by +15% to 46.9 MMT from an August estimate of 40.9 MMT.
