Daily Sugar Market Update By ‘Vizzie’ – 25/04/2019

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ChiniMandi, Mumbai – Thursday 25th April 2019

• Domestic: The market witnessed a good demand nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3130/Qntl, whereas in Resell, the rates are Rs.3025 to 3050. In Uttar Pradesh, Mill sales are taking place at Rs.3180 to 3230. In resale, the market rates are Rs.3170 to 3210. In Tamil Nadu mill trades are taking place Rs.3300 to 3350 excluding GST. In Gujarat, S/30 is trading at Rs.3120 to 3150. In Tamil Nadu, Mill trades are taking place at Rs.3340 to Rs.3400 excluding GST.

• International: The market has been witnessing a flatness. London White Sugar is trading at $329.80 whereas US Sugar is trading at $12.65.
The FOB indication for raw sugar was at $308-$310 and Indian White Sugar at $318-$320.
The demand of Raw Sugar range was ₹19200-19400/mt and White Sugar ₹19800-₹20000/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 70.245 meanwhile USD traded with BRL at 3.989, Crude Futures traded at ₹4622, WTI $66.17

• Indices: Equity benchmark BSE Sensex cracked on the heavy selloff in auto, metal, energy and financial stocks as boiling crude prices and depreciating rupee weighed on investor sentiment. The Sensex finished at 38,730.86, down by 323.82 points. The NSE Nifty too dropped as April futures and options (F&O) contracts expired, ending 84.35 points down at 11,641.80.

SOURCEChiniMandi

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