Daily Sugar Market Update By Vizzie – 02/09/2020


ChiniMandi, Mumbai: Wednesday, 2nd September 2020
Domestic Market: The market was stable nationwide. No major movement was witnessed nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3160/Qntl whereas M/30 ₹3240 to 3260
South Karnataka: S/30 Sugar rates are ₹3350 to 3400 whereas, M/30 rates are ₹3375 to 3450.
Uttar Pradesh: The rates for M/30 are ₹3330 to 3350/Qntl.
Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3400 to 3450 whereas, M/30 rates are ₹3450 to 3500.
(All the above rates are excluding GST)

International Market: According to reports, on Tuesday sugar prices opened stronger on strength in crude oil prices and strength in the Brazilian real against the dollar. However prices were at a low after the International Sugar Organization (ISO) projected that global 2020/21 sugar production would increase by +2.3% y/y to 173.5 MMT. London White Sugar front month contract is trading at $360.70/tn, whereas New York Sugar front month contract is trading at 12.53/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.200 whereas USD is trading with BRL at 5.4193, Crude futures traded at Rs.3153, Crude WTI traded at $43.04 a barrel. Indian Indices ended in the green. Sensex closed 185.23 points higher at 39,086.03 whereas Nifty ended 64.75 points higher at 11,535.00

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