Daily Sugar Market Update By Vizzie – 02/12/2021

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ChiniMandi, Mumbai: 2nd December 2021

Domestic Market:

Govt. fixes 21.5 LMT monthly sugar quota for domestic sale in December 2021

In a notification issued on 30th day of November 2021, the food ministry has allocated 21.5 LMT monthly sugar quota for December 2021 to 558 sugar mills which is equal to the quota allocated in December 2020.

Sugar Market Scenario:

The market witnessed moderate demand.

State wise prices today

◾ Maharashtra:S/30 Sugar rates from millers are ₹3180 to ₹3210/Qntl. whereas M/30 ₹3270 to 3310/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3275 to 3330/Qntl. whereas M/30 ₹3270 to 3350/Qntl.
◾ Uttar Pradesh: The rates for M/30 were at ₹3450 to 3480/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3251 to 3271/Qntl. whereas M/30 rates are at ₹3351 to 3451/Qntl.
◾ Tamil Nadu: S/30 Sugar rates are ₹3400 to 3450/Qntl. whereas M/30 rates are at ₹3450 to 3500/Qntl.

(All the above rates are excluding GST)

International Market:
Yesterday’s Closing:
Yesterday, the London White Sugar front month contract closed at $484.20/ton down $1.40 whereas the New York Sugar front month contract closed unchanged at 18.60/lb.

Market Today:

The London White Sugar front month contract is trading at $484/ton whereas the New York Sugar front month contract is trading at 18.60/lb.

Currency, Commodity & Indian Indices:

The rupee traded against the US dollar whereas USD was trading with BRL at 5.6958, Crude futures traded at Rs.5003 Crude WTI traded at $66.55 a barrel. Sensex closed 776.50 points higher at 58,461.29 whereas Nifty ended 234.75 points up at 17,401.65.

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