Daily Sugar Market Update By ‘Vizzie’ – 02/07/2019

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ChiniMandi, Mumbai – Tuesday 2nd 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.3010 to 3040. In Uttar Pradesh, Mill sales are taking place at Rs.3220 to 3350. In resale, the rates are Rs.3120 to 3210. In Gujarat, S/30 is trading at Rs.3100 to 3130. In Tamil Nadu, Mill trades are taking place at Rs.3225 to Rs.3320 excluding GST.

International: The market was flat. London White Sugar is trading at $324.10 whereas US Sugar is trading at $12.39.

The FOB indication for raw sugar 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 68.925 meanwhile USD traded with BRL at 3.843, Crude Futures traded at ₹4051, Crude WTI is trading at $58.70  Benchmark indices Sensex and Nifty closed higher in trade today.  While Sensex rose 129.98 points to 39,816.48, Nifty gained 44.70 points to 11,910.30.

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