Yesterday’s closing dated –26/01/2024
◾London White Sugar – 668.10s (-7.20)
◾NYBOT Raw Sugar #11 – 23.77s (-0.27)
◾USD/BRL- 4.9173 (+0.0008)
◾USD/INR – 83.124 (-0.018)
◾Brent Crude – 83.55 (+1.12)
◾BSE Sensex – 70,700.67 (-359.64)
◾NIFTY50 – 21,352.60 (-101.35)
Sugar prices on Friday closed moderately lower for a second session on negative carryover from Thursday when Unica reported a sharp increase in Brazil’s sugar production. Unica reported Thursday that Brazil’s Center-South sugar output jumped +148.6% y/y in the first half of January to 48,000 MT and that sugar output in the 2023/24 crop year through mid-January rose +25.5% y/y to 42.099 MMT. Meanwhile, more sugarcane is being crushed for sugar than ethanol, as 49.06% of cane was crushed in the 2023/24 crop year through mid-January for sugar production compared to 45.95% last year.
