Yesterday’s closing dated – 21/05/2024
◾London White Sugar – 544.40s (-6.40)
◾NYBOT Raw Sugar #11 – 18.56s (-0.12)
◾USD/BRL- 5.1228 (+0.0004)
◾USD/INR – 83.286 (-0.004)
◾Brent Crude – 82.88 (+0.83)
◾BSE Sensex – 73953.31 (-52.63)
◾NIFTY50 – 22529.05 (+27.05)
July NY world sugar #11 (SBN24) closed down -0.12 (-0.64%) on Tuesday, and Aug London ICE white sugar #5 (SWQ24) closed down -6.40 (-1.16%).
Sugar prices on Tuesday closed moderately lower as they gave back some of Monday’s sharp gains. Sugar prices have tumbled over the past seven weeks due to ramped-up sugar production in Brazil. Last Thursday, NY sugar fell to a 1-1/2 year nearest-futures low, and London sugar dropped to a 1-1/4 year low on the outlook for ample global sugar supplies.
