Yesterday’s closing dated – 29/07/2024
◾London White Sugar (SWV24) – 536.70s (+10.00)
◾NYBOT Raw Sugar #11 (SBV24) – 19.01s (+0.59)
◾USD/BRL- 5.6160 (+0.0001)
◾USD/INR – 83.734 (+0.011)
◾Brent Crude – 79.78 (-1.35)
◾BSE Sensex – 81355.84 (+23.12)
◾NIFTY50 – 24842.45 (+7.60)
October NY world sugar #11 (SBV24) on Monday closed up +0.59 (+3.20%), and Oct London ICE white sugar #5 (SWV24) closed up +10.00 (+1.90%).
Sugar prices on Monday jumped to 1-week highs on concerns about Brazil’s sugar production. Unica reported last Thursday that Brazil’s Center-South sugar output in the first half of July fell -9.7% y/y to 2.939 MMT. However Center-South sugar production in the marketing year through mid-July was still up by +10.4% y/y at 17.140 MMT.
