Yesterday’s closing dated –08/01/2024
◾London White Sugar – 621.70s (+14.601)
◾NYBOT Raw Sugar #11 – 21.74s (+0.63)
◾USD/BRL- 4.8705 (0.0005)
◾USD/INR – 83.1375 (-0.0125)
◾Brent Crude – 76.12 (=2.64)
◾BSE Sensex – 71,355.22 (-670.93)
◾NIFTY50 – 21,513.00 (-197.80)
Sugar prices on Monday rallied sharply and posted 1-week highs. Global sugar supply concerns have sparked fund buying of sugar futures and are supporting prices. Last Tuesday, the National Federation of Cooperative Sugar Factories reported that India’s sugar production from Oct 1-Dec 31 fell -7.6% y/y to 11.2 MMT.
