Yesterday’s closing dated –18/02/2024
◾London White Sugar – 628.00s (+4.60)
◾NYBOT Raw Sugar #11 – 22.16s (+0.04)
◾USD/BRL- 5.0308 (+0.0056)
◾USD/INR – 82.902 (+0.012)
◾Brent Crude – 86.89 (+1.55)
◾BSE Sensex – 72748.42 (+104.99)
◾NIFTY50 – 22055.70 (+32.35)
Sugar prices on Monday rallied to 2-week highs due to the strength of gasoline prices. April gasoline (RBJ24) on Monday jumped to a 6-month high, which boosted ethanol prices and may prompt the world’s sugar mills to divert more cane crushing toward ethanol production instead of sugar, thus reducing sugar supplies.
