Daily Sugar Market Update By Vizzie – 01/04/2021

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ChiniMandi, Mumbai: Thursday, 1st April 2021
Domestic Market:
The market witnessed good demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3215 to 3175. In the resale market S/30 is trading at ₹3000 to ₹3050 whereas M/30 is trading at ₹3050 to ₹3115
South Karnataka: S/30 rates are ₹3180 to 3200 whereas M/30 is ₹3200 to 3250.
Uttar Pradesh: The rates for M/30 are ₹3190 to 3220
Gujarat: Mills didn’t open sale for domestic quota due to the allotment of exchange MAEQ quota that several mills had taken up.
Tamil Nadu: S/30 Sugar rates are ₹3200 to 3250 whereas M/30 rates are at ₹3250 to 3275
(All the above rates are excluding GST)

International Market:
According to reports, on Wednesday sugar prices remained under pressure from demand concerns and abundant supplies. Prices settled low.
At the time of writing this update London White Sugar front month contract is trading at $425.30/tn, whereas New York Sugar front month contract is trading at 14.80/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27250 to ₹27350 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.412 whereas USD was trading with BRL at 5.6231 Crude futures traded at Rs.4357, Crude WTI traded at $59.12 a barrel. Sensex closed 5203.68 points higher at 50,029.83 whereas Nifty ended 176.65 points lower at 14,867.35.

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