Daily Sugar Market Update By ‘Vizzie’ – 01/07/2019

ChiniMandi, Mumbai – Monday 1st July 2019

Indian: The week began with quietness nationwide. Sugar mills in Maharashtra, are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3020 to 3050. In Uttar Pradesh, Mill sales are taking place at Rs.3220 to 3350. In resale, the rates are Rs.3130 to 3220. In Gujarat, S/30 is trading at Rs.3100 to 3150. In Tamil Nadu, Mill trades are taking place at Rs.3240 to Rs.3320 excluding GST.

International: The sugar market was flat. London White Sugar price is trading at $329.60 whereas US Sugar price is trading at $12.75.

The FOB indication for raw sugar price was at $336-$338 and Indian White Sugar at $352-$355.

The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.942 meanwhile USD traded with BRL at 3.500, Crude Futures traded at ₹4141, Crude WTI is trading at $59.94. Benchmark indices Sensex and Nifty closed higher in trade today. While Sensex rose 291 points to 39,686, Nifty gained 76 points to 11,865.

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