Daily Sugar Market Update By Vizzie – 02/07/2021

ChiniMandi, Mumbai: Friday, 2nd July 2021

Domestic Market:
Market Scenario:
The market witnessed moderate demand.
State wise Prices as on July 02, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170.
In the resale market S/30 is trading at ₹3020 to ₹3040 whereas M/30 is trading at ₹3040 to ₹3105.
– Karnataka : S/30 Sugar rates from millers are ₹3160 to 3200
– Uttar Pradesh: The rates for M/30 are ₹3200
– Gujarat: S/30 Sugar rates are ₹3110 to 3121 whereas M/30 rates are at ₹3161 to 3171
– Tamil Nadu: S/30 Sugar rates are ₹3200 to 3275 whereas M/30 rates are at ₹3275 to 3300
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:

On Thursday sugar prices closed higher on concerns over the sugarcane crop in Brazil. London white sugar closed at $450.70/ton up $3.00 whereas raw sugar on the New York Stock Exchange closed at 17.94 cents per pound up 0.05 points.

Market Today :
London White Sugar front month contract is trading at $453/tn whereas New York Sugar front month contract is trading at 18.23/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28600 to ₹28800 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.531 whereas USD was trading with BRL at 5.594 Crude futures traded at Rs.5595, Crude WTI traded at $74.94 a barrel. Sensex closed 166.07 points higher at 52,484.67 whereas Nifty ended 42.20 points higher at 15722.20.

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