Daily Sugar Market Update By Vizzie -02/03/2020

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ChiniMandi, Mumbai: Monday 2nd March 2020

Domestic Market: The market witnessed scanty demand nationwide.
Maharashtra: S/30 Sugar trades are taking place at Rs.3100 to Rs.3140/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3250 to Rs. 3260.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3190 to Rs.3230.
Gujarat: Old M/30 trades are taking place at Rs.3150 to 3190 whereas New M/30 trades are taking place at 3251-3270.
Kolkata: The trades for S/30 are taking place at Rs.3460 to Rs.3480 whereas M/30 trades are taking place at Rs.3540 to Rs.3560.
Tamil Nadu: S/30 Sugar is trading at Rs.3300 to Rs.3350 whereas M/30 trades are taking place at Rs.3400 to Rs.3410
*All the domestic rates except Kolkata are excluding GST

International Market:  No major movement was witnessed in the market. White sugar of season 2018/19 icumsa 150 ready delivery is trading at Rs.23900 to Rs. 24000 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.24200 to Rs.24300 ex. factory basis. The FOB indication for white sugar icumsa 150 season 2018/19 is $375 to $376. For white sugar icumsa 100 Season 2019/20 the FOB indication is $382 to $384.
London White Sugar front month contract is trading at $398.40/tn whereas US Sugar front month contract is trading at 14.13/lb at the time of writing this update.

Currency, Commodity & Indian Indices:  The rupee traded against the US dollar at 72.740 whereas USD traded with BRL at 4.4736, Crude futures traded at Rs.3300, Crude WTI traded at $45.08.

Indian Indices ended in the red. Sensex closed 153.27 points lower at 38,144.02 whereas Nifty ended 69.00 points lower at 11,132.75.

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