Yesterday’s closing dated –22/04/2024
◾London White Sugar –570.40s (+6.90)
◾NYBOT Raw Sugar #11 – 19.80s (+0.07)
◾USD/BRL- 5.1663 (-0.0017)
◾USD/INR – 83.382 (+0.012)
◾Brent Crude – 87.00 (-0.29)
◾BSE Sensex – 73648.62 (+560.29)
◾NIFTY50 – 22336.40 (+189.40)
May NY world sugar #11 (SBK24) on Monday closed up +0.07 (+0.35%), and Aug London ICE white sugar #5 (SWQ24) closed up +6.90 (+1.22%).
Sugar prices on Monday closed mildly higher. Sugar prices have some carryover support from last Thursday when Conab cut its Brazil 2023/24 sugar production estimate by -2.6% to 45.7 MMT from a November estimate of 46.9 MMT. Conab’s Brazil sugar production estimate was reduced since Conab raised its Brazil 2023/24 ethanol production estimate to 29.7 bln liters from a November estimate of 28 billion liters.
