Yesterday’s closing dated – 19/07/2024
◾London White Sugar (SWV24) – 541.20s (-4.30)
◾NYBOT Raw Sugar #11 (SBV24) – 18.66s (-0.28)
◾USD/BRL- 5.5967 (+0.0507)
◾USD/INR – 83.730 (+0.040)
◾Brent Crude – 82.63 (-2.48)
◾BSE Sensex – 80,604.65 (-738.81)
◾NIFTY50 – 24,530.90 (-269.95)
October NY world sugar #11 (SBV24) on Friday closed down -0.28 (-1.48%), and Oct London ICE white sugar #5 (SWV24) closed down -4.30 (-0.79%).
Sugar prices Friday added to this week’s sell-off and slid to 1-1/2 month lows. Projections for a global sugar surplus weighed on prices after Covrig Analytics said Wednesday that it expects the 2024/25 global sugar market to be in surplus by +182,000 MT versus its previous estimate for a -2.6 MMT deficit.
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