Yesterday’s closing dated – 28/05/2024
◾London White Sugar – 553.50s (+7.60)
◾NYBOT Raw Sugar #11 – 18.73s (+0.32)
◾USD/BRL- 5.1607 (-0.0004)
◾USD/INR – 83.177 (+0.055)
◾Brent Crude – 84.22 (+1.12)
◾BSE Sensex – 75170.45 (-220.05)
◾NIFTY50 – 22888.15 (-44.30)
July NY world sugar #11 (SBN24) on Tuesday closed up +0.32 (+1.74%), and Aug London ICE white sugar #5 (SWQ24) closed up +7.60 (+1.39%).
Sugar prices posted moderate gains on Tuesday, with NY sugar climbing to a 1-1/2 week high. Sugar moved higher on signs that the recent drop in sugar prices sparked a surge in sugar demand. According to Green Pool Commodity Specialists, several large sugar-consuming countries, including China, the world’s largest sugar importer, have boosted sugar imports after the recent slump in prices to a 1-1/2 year low.
