Daily Sugar Market Update By Vizzie – 02/08/2022

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ChiniMandi, Mumbai: 2nd August 2022

Domestic Trade Market

The market witnessed good demand. Prices got corrected by ₹30 to 40 after the Department of Food & Public Distribution announced an extension of July month’s quota by 30 days.

Ex-mill sugar prices as on August, 02 2022 :

State

S/30

[Rates per Quintal]

M/30

[Rates per Quintal]

Maharashtra

₹3350 to 3400

₹3410 to 3480

Karnataka

₹3360 to 3440

₹3460 to 3530

Uttar Pradesh

₹3525 to 3600

Gujarat

₹3361 to 3421

₹3411 to 3471

Tamil Nadu

₹3485 to 3600

₹3535 to 3600

Madhya Pradesh

₹3470 to 3490

₹3520 to 3550

Punjab

₹3570 to 3641

(All the above rates are excluding GST)

International Trade Market

At the time of writing this update, the London White Sugar #5 front month contract (SWV22) is trading at $520.50/ton, whereas the New York Sugar #11 front month contract (SBV22) is trading at 17.42 c/lb.

Currency, Commodity & Indian Indices:

The rupee traded against the US dollar at 78.524 whereas USD was trading with BRL at 5.2137 Crude futures traded at ₹7420, Crude WTI traded at $94.33/barrel. Sensex closed 20.86 points lower at 58,136.36 whereas Nifty ended 5.40 points lower at 17,345.45.

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