Daily Sugar Market Update By Vizzie – 01/03/2021

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ChiniMandi, Mumbai: Monday 01st March 2021

Domestic Market:
The market was steady, prices remained firm.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3210 to 3250. In the resale market S/30 is trading at ₹3010 to ₹3065 whereas M/30 is trading at ₹3060 to ₹3200.
South Karnataka: S/30 rates are ₹3140 to 3175. M/30 rates are ₹3150 to 3225.
Uttar Pradesh: The rates for M/30 are ₹3150 to 3200
In Gujarat: The rates for old S/30 and ₹M/30 3101 to 3111 and new S/30 are prevailing at ₹3121 new M/30 ₹3121 to 3141
Tamil Nadu: S/30 Sugar rates are ₹3180 to 3250 whereas, M/30 rates are 3230 to 3275
(All the above rates are excluding GST)

International Market:
On Friday sugar prices closed low on weakness in crude prices and a slump in the Brazilian real New York world sugar #11 closed down -0.31 at 17.53/lb, and May London white sugar closed down -12.90 at $455.10/ton.

At the time of writing this update London White Sugar front month contract is trading at $456.30/tn, whereas New York Sugar front month contract is trading at 16.53/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹26850 to ₹27000 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹26850 to ₹27000 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.489 whereas USD was trading with BRL at 5.5989 Crude futures traded at Rs.4592, Crude WTI traded at $62.28 a barrel. Sensex closed 749.85 points higher at 49849.84 whereas Nifty ended 232.40 points higher at 14761.55

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