Yesterday’s closing dated –19/04/2024
◾London White Sugar –563.50s (-5.40)
◾NYBOT Raw Sugar #11 – 19.73s (+0.14)
◾USD/BRL- 5.2031 (-0.0450)
◾USD/INR – 83.370 (-0.188)
◾Brent Crude – 87.29 (+0.18)
◾BSE Sensex – 73,088.33 (+599.34)
◾NIFTY50 – 22,147.00 (+151.15)
May NY world sugar #11 (SBK24) on Friday closed up +0.14 (+0.71%), and Aug London ICE white sugar #5 (SWQ24) closed down -5.40 (-0.95%).
Sugar prices settled mixed on Friday as they consolidated this week’s significant losses. Sugar prices have some carryover support from Thursday when Conab cut its Brazil 2023/24 sugar production estimate by -2.6% to 45.7 MMT from a November estimate of 46.9 MMT. Conab’s Brazil sugar production estimate was reduced since Conab raised its Brazil 2023/24 ethanol production estimate to 29.7 bln liters from a November estimate of 28 billion liters.
