Yesterday’s closing dated –08/02/2024
◾London White Sugar – 665.70s (+9.20)
◾NYBOT Raw Sugar #11 – 23.98s (+0.10)
◾USD/BRL- 4.9925 (+0.0005)
◾USD/INR – 82.992 (-0.067)
◾Brent Crude – 81.63 (+2.42)
◾BSE Sensex – 71428.43 (-723.57)
◾NIFTY50 – 21717.95 (-212.55)
March NY world sugar #11 (SBH24) on Thursday closed up +0.10 (+0.42%), and March London ICE white sugar #5 (SWH24) closed up +9.20 (+1.40%).
Sugar prices on Thursday recovered from early losses and settled higher. Concerns about global sugar production are positive for prices after the Thai Sugar Millers Corp on Tuesday cut the high end of its Thailand 2023/24 sugar production estimate to 7 MMT to 7.5 MMT from a November estimate of 7 MMT to 8 MMT.
