Yesterday’s closing dated – 16/05/2024
◾London White Sugar – 536.20s (-6.10)
◾NYBOT Raw Sugar #11 – 18.33s (-0.32)
◾USD/BRL- 5.1294 (0.0006)
◾USD/INR – 83.490 (+0.072)
◾Brent Crude – 83.27 (+0.52)
◾BSE Sensex – 73663.72 (+676.69)
◾NIFTY50 – 22403.85 (+203.30)
July NY world sugar #11 (SBN24) on Thursday closed down -0.32 (-1.72%), and Aug London ICE white sugar #5 (SWQ24) closed down -6.10 (-1.12%).
Sugar prices Thursday added to this week’s losses, with NY sugar falling to a 1-1/2 year nearest-futures low and London sugar dropping to a 1-1/4 year low on the outlook for ample global sugar supplies.
Ramped-up sugar production in Brazil is hammering sugar prices.
