Daily Sugar Market Update By ‘Vizzie’ – 02/08/2019

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ChiniMandi, Mumbai – Friday 2nd August 2019

Indian: The market was firm. In Maharashtra, mills are opening their rates at Rs.3100 to Rs.3150/Qntl, whereas in Resell, prices are Rs.3090 to 3150. In Uttar Pradesh, Mill sales are taking place at Rs.3340 to 3380. In resale, the rates are Rs.3320 to 3360. In Gujarat, S/30 is trading at Rs.3110 to 3150. In Tamil Nadu, Mill trades are taking place at Rs.3275 to Rs.3325 excluding GST.

International: The market was stable. London White Sugar is trading at $323.80 whereas US Sugar is trading at $12.03. The FOB indication for raw sugar was at $328-$330 and Indian White Sugar at $342-$345.

The demand of Raw Sugar range was ₹19700-19900/mt and White Sugar ₹20600-₹20800/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 69.628 meanwhile USD traded with BRL at 3.8418, Crude Futures traded at ₹3854, Crude WTI is traded at $55.30. Domestic equity market indices Sensex and Nifty pared early losses and closed on a bullish note by the afternoon session, backed by buying interest generated from Auto and PSU Bank stocks. Sensex ended the day’s trade at 37,118, with a rise of 99 points and Nifty 50 has closed 17.35 points up at 10,997 marks.

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