Daily Sugar Market Update By Vizzie – 01/06/2020

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ChiniMandi, Mumbai: Monday 1st June 2020
Domestic Market: The market has been steady nationwide, in Maharashtra state resale, there has been demand below MSP.
Maharashtra: S/30 Sugar rates are Rs.3100 to 3180 Qntl. M/30 3140 to 3200 Rs.
South Karnataka: S/30 rates are Rs.3240 to Rs.3275 whereas M/30 rates are Rs.3325.
Uttar Pradesh: The rates for M/30 rates are Rs.3150 to Rs.3200/Qntl.
Gujarat: The rates for New S/30 are Rs.3171 to Rs. 3200 whereas M/30 are at Rs. 3211 to Rs.3231 /Qntl.
Tamil Nadu: S/30 Sugar rates are Rs.3275 to Rs.3350 whereas M/30 rates are Rs.3325 to 3400.

International Market:
According to reports, on Friday sugar prices settled higher following higher crude prices. Higher crude prices benefit ethanol prices and may prompt Brazil’s sugar mills to divert more cane crushing toward ethanol production, thus reducing sugar supplies.

London White Sugar front month contract is trading at $366.70/tn whereas US Sugar front month contract is trading at 11.07/lb at the time of writing this update.

Currency, Commodity & Indian Indices:The rupee traded against the US dollar at 75.516 whereas USD traded with BRL at 5.3383, Crude futures traded at Rs.2681, Crude WTI traded at $35.42 Indices ended in the green, sensex closed 879.42 points higher at 33,303.42. Similarly, Nifty ended 245.85 points higher at 9,826.15.

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