Yesterday’s closing dated –24/11/2023
◾London White Sugar – 738.00s (-8.10)
◾NYBOT Raw Sugar #11 – 26.98s (-0.24)
◾USD/BRL- 4.9035 (-0.0004)
◾USD/INR – 83.37 (+0.025)
◾Brent Crude – 80.58 (-0.84)
◾BSE Sensex – 65,970.04 (-47.77)
◾NIFTY50 – 19,794.70 (-7.30)
Sugar prices on Friday posted moderate losses, with NY sugar falling to a 3-1/2 week low. Weakness in crude prices Friday weighed on sugar as WTI crude (CLF24) fell more than -1%. Weak crude prices undercut ethanol prices and may prompt global sugar mills to divert cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies.
