ChiniMandi, Mumbai: 18th January 2022
Indian Market Updates
◾ Latest Update on Sugar Season 2021-22 by ISMA
According to the latest update by Indian Sugar Mills Association (ISMA) 504 sugar mills were in operation in the country as on 15th January 2022 and have produced 151.41 lac tons of. This is 8.63 lac tons higher as compared to last season’s production for the corresponding period.
Statewise Sugar Production
Domestic Trade Market
The market witnessed scanty demand.
State wise prices today:
◾ Maharashtra:S/30 Sugar rates from millers are ₹3140 to ₹3215/Qntl. whereas M/30 ₹3235 to 3315/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3240 to 3290/Qntl. whereas M/30 ₹3290 to 3340/Qntl.
◾ Uttar Pradesh: The rates for M/30 were at ₹3475 to 3510/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3241 to 3351/Qntl. whereas M/30 rates are at ₹3321 to 3451/Qntl.
◾ Tamil Nadu: S/30 Sugar rates are ₹3420 to 3500/Qntl. whereas M/30 rates are at ₹3475 to 3550/Qntl.
(All the above rates are excluding GST)
International Trade Market
Yesterday sugar futures contracts closed higher on international exchanges. London white sugar #5 (SWH22) closed up 5.70 at $508.30/ton whereas US sugar #11 (SBH22) didn’t trade due to Holiday on the exchange.
The London White Sugar front month contract is trading at $510.50/ton, whereas the New York Sugar front month contract is trading at 18.66/lb.
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.590, whereas USD was trading with BRL at 5.5465, Crude futures traded at Rs.6327, Crude WTI traded at $84.27 barrel. Sensex closed 554.05 points lower at 60,754.86 whereas Nifty ended 195.05 points lower at 18,113.05.
