Daily Sugar Market Update By Vizzie – 02/07/2020

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ChiniMandi, Mumbai: Thursday 2nd July 2020
Domestic Market: The market witnessed moderate demand nationwide. According to market experts, demand for sugar is yet likely to pick up pace since the country has reached the scenario of complete unlocking. Once hotels, restaurants, theatres, malls etc. open, the industry shall witness the actual demand coming in.
Maharashtra: S/30 Sugar rates from millers are ₹3170 to ₹3200/Qntl whereas M/30 ₹3270 to 3300
South Karnataka: The rates for S/30 are ₹3360 to 3400/Qntl whereas for M/30 are at ₹3450/Qntl.
Uttar Pradesh: The rates for M/30 are ₹3325 to ₹3335/Qntl.
Gujarat: The rates for New S/30 are ₹3201 to 3211 whereas M/30 are at ₹3211 to 3251/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3385 to Rs.3425 whereas, M/30 rates are ₹3435 to 3450.
(All the above rates are excluding GST)

International Market:
According to reports, on Wednesday sugar prices rose owing to strength in crude oil prices and on a rally in the Brazilian real.

London White Sugar front month contract is trading at $349.80/tn, whereas US Sugar front month contract is trading at 12.13/lb at the time of writing this update.
Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.727 whereas USD traded with BRL at 5.3057, Crude futures traded at Rs.2998, Crude WTI traded at $40.06. Indices ended in the green, sensex closed 429.25 points higher at 35,843.70. Similarly, Nifty ended 121.65 points higher at 10,551.70.

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