Daily Sugar Market Update by ‘Vizzie’ 01/11/2019

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ChiniMandi, Mumbai  Friday 1st November 2019

Domestic: After the announcement of monthly release quota for November 2019 quietness was witnessed in the market. Maharashtra: S/30 Sugar trades are taking place at Rs.3100 to Rs.3150/Qntl whereas M/30 trades took place at Rs.3200 to Rs.3270.

Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to 3400.

Gujarat:  S/30 Sugar is trading at Rs.3180 to Rs.3210 and M/30 Rs.3260 to 3310.

Kolkata:  The trades for M/30 are taking place at Rs.3800 to 3810.

Tamil Nadu: S/30 Sugar is trading at Rs.3300 to Rs.3375 whereas M/30 is trading at Rs.3350 to 3400.

*All the domestic rates except Kolkata are excluding GST.

International Market: There is good demand for ready delivery white sugar of season 2018/19. The prices for are at Rs.20500 to Rs.20700 Ex. factory basis. The FOB indication for Indian White Sugar is at $330-332.  London White Sugar front month contract is trading at $340.10/tn whereas US Sugar front month contract is trading at 12.49/lb at the time of writing this update.

Currency,Commodity & Indian Indices: The rupee traded against the US dollar at 70.783  meanwhile USD traded with BRL at 3.9974, Crude Futures traded at Rs.3876, Crude WTI traded at $54.72. Sensex closed 35.98points higher at 40,165.03 whereas Nifty 50 closed 13.15 points higher at 11,890.60.

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