Yesterday’s closing dated 13/11/2019
◾️London White Sugar – $334.30 (+6.80)
◾️NYBOT Raw Sugar #11 – $12.85 (+0.26)
◾️Crude Oil WTI – $57.33 (+0.21)
◾️USD/BRL – 4.1698 (-0.0004)
◾️USD/INR – 72.150 (+0.00)
◾️BSE Sensex – 40,116.06 (-229.02)
◾️NIFTY50 – 11,840.45 (-73.00)
The sugar industry experts have criticised the Thailand government’s decision of banning agri-chemicals Paraquat, Chlorpyrifos and Glyphosate will affect the sugar industry. Dr Kitti Chunhawong said, “Thailand is the fifth largest sugar producer in the world and second-biggest exporter. The ban on paraquat will affect sugar production as well as impact food processing, animal feed and ethanol production sector. There will be a decrease in the production of sugarcane between 20 per cent to 50 per cent. Drop in raw sugar production caused by the ban will cost about 47 billion baht a year. Drop in the raw sugar production will also affect the reduction in molasses production.”