Daily Sugar Market Update By Vizzie – 02/11/2020

ChiniMandi, Mumbai: Monday 2nd November 2020
Domestic Market: The market witnessed moderate demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3125 to ₹3150/Qntl whereas M/30 ₹3240 to 3270.
South Karnataka: S/30 Sugar rates are ₹3195 to 3260 whereas, M/30 rates are ₹3225 to 3310.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3285/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3300 to 3375 whereas, M/30 rates are 3425.
(All the above rates are excluding GST)

International Market:
According to reports on Friday, sugar prices ended mixed with New York sugar falling to a 2-week low. Sugar prices were undercut owing to weakness in crude oil prices, along with a slump in the Brazilian real.

London White Sugar front month contract is trading at $392.80/tn, whereas New York Sugar front month contract is trading at 14.46/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.441 whereas USD was trading with BRL at 5.7452 Crude futures traded at Rs.2601 Crude WTI traded at $34.86 a barrel. Indian Indices ended in the red. Sensex closed 143.51 points higher at 39,757.58 whereas Nifty ended 26.75 points higher at 11,669.15.

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