Daily Sugar Market Update By Vizzie – 01/10/2020

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ChiniMandi, Mumbai: Thursday 1st October 2020

Domestic Market: The market sentiments have been weak. Sugar millers and traders have been facing the heat of poor demand and high allocation of quota for the month of October 2020.

In Maharashtra: S/30 Sugar rates from millers are ₹3150/Qntl whereas M/30 ₹3240 to 3260

South Karnataka:  S/30 Sugar rates are ₹3250 to 3300 whereas, M/30 rates are ₹3275.

Uttar Pradesh: The rates for M/30 are ₹3250  to 3260/Qntl.

Gujarat: The rates for New S/30 are ₹3211 whereas M/30 are at ₹3241 to 3271/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3325 to 3400 whereas, M/30 rates are 3450.

(All the above rates are excluding GST)

International Market: According to reports, on Wednesday sugar prices recovered from losses and settled higher following higher crude prices that rallied more than 2%.

London White Sugar front month contract is trading at $375.80/tn, whereas New York Sugar front month contract is trading at 13.51/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.032 whereas USD was trading with BRL at 5.5993, Crude futures traded at Rs.2892, Crude WTI traded at $39.50 a barrel. Indian Indices ended in the green. Sensex closed 629.12 points higher at 38,697.05 whereas Nifty ended 169.40 points higher at 11,416.95.

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