Yesterday’s closing dated –22/02/2024
◾London White Sugar – 619.70s (-5.80)
◾NYBOT Raw Sugar #11 – 22.83s (+0.06)
◾USD/BRL-4.9644 (+0.0039)
◾USD/INR – 82.896 (-0.036)
◾Brent Crude – 83.67 (+0.64)
◾BSE Sensex – 73158.24 (+535.15)
◾NIFTY50 – 22217.45 (+162.40)
March NY world sugar #11 (SBH24) on Thursday closed up +0.06 (+0.26%), and May London ICE white sugar #5 (SWK24) closed down -5.80 (-0.93%).
Sugar prices on Thursday settled mixed, with London sugar posting a 5-week low. Sugar prices came under pressure Thursday after India’s government said it has no plans to allow its sugar mills to divert more cane crushing to make ethanol, which should boost India’s domestic sugar supplies. NY sugar on Thursday recovered from a 5-week low and moved higher after a decline in the dollar index to a 2-1/2 week low sparked some short-covering in sugar futures.
