Yesterday’s closing dated – 12/08/2024
◾London White Sugar (SWV24) – 519.40s (-6.60)
◾NYBOT Raw Sugar #11 (SBV24) – 18.29s (-0.19)
◾USD/BRL- 5.4933 (-0.0041)
◾USD/INR – 83.956 (+0.004)
◾Brent Crude – 82.30 (+2.64)
◾BSE Sensex – 79648.92 (-56.99)
◾NIFTY50 – 24345.85 (-21.65)
October NY world sugar #11 (SBV24) on Monday closed down -0.19 (-1.03%), and Oct London ICE white sugar #5 (SWV24) closed down -6.60 (-1.25%).
Sugar prices are somewhat reduced due to positive expectations that the above-average monsoon rains in India will result in a high sugarcane crop. According to the Indian Meteorological Department, as of August 11, India has received 579.7 mm of rain this monsoon season, which is 7% above the long-term average of 481.9 mm. The monsoon season in India spans from June to September.
