Yesterday’s closing dated –13/10/2023
◾London White Sugar – 727.30s (+16.10)
◾NYBOT Raw Sugar #11 – 27.03s (+0.68)
◾USD/BRL- 5.0807 (+0.0348)
◾USD/INR – 83.421 (+0.066)
◾Brent Crude – 90.80 (+4.80)
◾BSE Sensex – 66,282.74 (−125.65)
◾NIFTY50 – 19,751.05 (-42.95)
Sugar prices Friday posted moderate gains, with London sugar climbing to a 2-1/2 week high. Friday’s +5% surge in crude (CLX23) prices to a 1-week high sparked a rally in sugar. Higher sugar prices benefit ethanol prices and may prompt the world’s sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.
