Yesterday’s closing dated – 18/06/2024
◾London White Sugar – 546.60s (-1.90)
◾NYBOT Raw Sugar #11 – 18.92s (-0.06)
◾USD/BRL- 5.4413 (+0.0054)
◾USD/INR – 85.33 (+1.08)
◾Brent Crude – 84.25 (+1.63)
◾BSE Sensex – 77301.14 (+308.37)
◾NIFTY50 – 22557.90 (+92.30)
July NY world sugar #11 (SBN24) on Tuesday closed down -0.06 (-0.32%), and Aug London ICE white sugar #5 (SWQ24) closed down -1.90 (-0.35%).
Sugar prices on Tuesday posted moderate losses. Sugar prices have been under pressure since last Friday when Unica reported that Brazil’s sugar production for the 2024/25 crop year through May was up +11.8% y/y at 7.837 MMT. Also, the percentage of Brazil’s 2024/25 sugar cane crop crushed for sugar rose to 47.88% from 46.68% last year.
