Yesterday’s closing dated – 05/07/2024
◾London White Sugar (SWQ24) – 575.00s (-9.30)
◾NYBOT Raw Sugar #11 (SBV24) – 20.14s (-0.39)
◾USD/BRL- 5.4597 (-0.0290)
◾USD/INR – 83.468 (-0.034)
◾Brent Crude – 86.54 (-0.89)
◾BSE Sensex – 79996.60 (-53.07)
◾NIFTY50 – 24323.85 (+21.70)
October NY world sugar #11 (SBV24) on Friday closed down -0.39 (-1.90%), and Aug London ICE white sugar #5 (SWQ24) closed down -9.30 (-1.59%).
Sugar prices posted moderate losses on Friday, with London sugar falling to a 1-week low. Sugar prices are under pressure on negative carryover from Wednesday when the Indian Sugar and Bio-energy Manufacturers Association (ISM) forecasted India’s 2023/24 sugar reserves at 9.1 MMT and a surplus of 3.6 MMT and urged the government to reconsider permitting exports of surplus sugar.
