Yesterday’s closing dated – 26/07/2024
◾London White Sugar (SWV24) – 526.70s -(4.70)
◾NYBOT Raw Sugar #11 (SBV24) – 18.42s -(0.24)
◾USD/BRL- 5.6561 (+0.0118)
◾USD/INR – 83.724 (-0.031)
◾Brent Crude – 81.13 (-1.24)
◾BSE Sensex – 81,332.72 (+1,292.92)
◾NIFTY50 – 24,834.85 (+428.75)
October NY world sugar #11 (SBV24) Friday closed down -0.24 (-1.29%), and Oct London ICE white sugar #5 (SWV24) closed down -4.70 (-0.88%).
NY sugar prices Friday traded lower and fell back towards Wednesday’s 1-1/4 year low. Over the past month, sugar prices have sharply declined due to higher sugar production in Brazil, anticipated improved rainfall in India and Thailand, and projections of a global sugar surplus for the 2024/25 season.
On Thursday, sugar prices experienced a brief increase following Unica’s report that Brazil’s Center-South sugar output for the first half of July dropped by 9.7% year-over-year to 2.939 million metric tons (MMT).
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