Daily Sugar Market Update By Vizzie – 02/10/2020

ChiniMandi, Mumbai: Friday 2nd October 2020
Domestic Market: The market sentiments have been weak throughout the week due to selling pressure. Today the market witnessed quietness with major markets shut on account of Gandhi Jayanti.
In Maharashtra: S/30 Sugar rates from millers are ₹3150/Qntl whereas M/30 ₹3240 to 3260
South Karnataka: S/30 Sugar rates are ₹3250 to 3300 whereas, M/30 rates are ₹3275.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.
Gujarat: The rates for New S/30 are ₹3211 whereas M/30 are at ₹3241 to 3271/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3325 to 3400 whereas, M/30 rates are 33450.
(All the above rates are excluding GST)

International Market:
According to reports, on Thursday sugar prices settled mixed. New York sugar surged to a 7-month nearest-futures high, and London sugar posted a 6-week high on concern about tightness in near-term sugar supplies. Sugar rallied on Thursday morning sharply after some of the world’s largest sugar traders took cash delivery on a record 51,797 Oct New York sugar futures contracts that expired on Wednesday.

London White Sugar front month contract is trading at $371.10/tn, whereas New York Sugar front month contract is trading at 13.38/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
NSE & BSE were closed, commodity markets, metal and bullion markets, forex and commodity futures were shut on account of Gandhi Jayanti.

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