Yesterday’s closing dated – 20/06/2024
◾London White Sugar – 552.70s (-0.80)
◾NYBOT Raw Sugar #11 – 18.89s (-0.03)
◾USD/BRL- 5.4542 (+0.0059)
◾USD/INR – 83.615 (+0.185)
◾Brent Crude – 85.71 (+0.64)
◾BSE Sensex – 77478.93 (+141.34)
◾NIFTY50 – 23567.00 (+51.00)
July NY world sugar #11 (SBN24) on Thursday closed down -0.03 (-0.16%), and Aug London ICE white sugar #5 (SWQ24) closed down -0.80 (-0.14%).
Sugar prices Thursday posted modest losses. This past week, sugar prices have been under pressure by news of increased sugar output in Brazil. Unica reported last Friday 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.
