Daily Sugar Market Update By Vizzie – 03/02/2020

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ChiniMandi, Mumbai: Monday, 3rd February 2020

Domestic: The market witnessed good demand nationwide with prices remaining firm.
Maharashtra: S/30 Sugar trades are taking place at Rs.3125 to Rs.3180/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3270 to Rs. 3325 whereas M/30 trades are taking place at Rs.3300 to Rs 3375.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to Rs.3390.
Gujarat: M/30 Sugar is trading at Rs.3310 to Rs.3350.
Kolkata: The trades for S/30 are taking place at Rs.3590 to Rs.3610 whereas M/30 trades are taking place at Rs.3630 to Rs.3675.
Tamil Nadu: S/30 Sugar is trading at Rs. 3310 to Rs.3400 whereas M/30 is trading at Rs.3390 to Rs 3425
*All the domestic rates except Kolkata are excluding GST.

International Market: Good demand was witnessed. White sugar of season 2018/19 icumsa 150 ready delivery traded at Rs.23300 to Rs. 23500 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.23600 to Rs.23800 ex. factory basis. The FOB indication for white sugar icumsa 150 season 2018/19 is $365 to $367. For white sugar icumsa 100 Season 2019/20 the FOB indication is $372 to $375.

London White Sugar front month contract is trading at $413.20/tn whereas US Sugar front month contract is trading at 14.64/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 71.396 meanwhile USD traded with BRL at 4.2662, Crude Futures traded at Rs.3697, Crude WTI traded at $51.62. Indian Indices ended in the green today. Sensex ended today 136.78 points higher at 39,872.31. Similarly, Nifty ended 46.05 points higher at 11,707.90.

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