Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Wednesday, 3rd April 2019

• Domestic: The market continued to be stable nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3150/Qntl however the sale is scanty. In Resell, rates are Rs.3000 to 3030. In Uttar Pradesh, mill sales are taking place at Rs.3180 to 3220. In resale, the market rates are Rs.3125 to 3160. In Gujarat, S/30 is trading at Rs.3110 to 3120. In Tamil Nadu, Mill trades are taking place at Rs.3200 to Rs.3300 excluding GST.

• International: The market did not witness any major movement. London White Sugar is trading at $332.70 whereas US Sugar is trading at $12.67.

The FOB indication for raw sugar was at $310-$312 and Indian White Sugar at $322-$324.

The demand of Raw Sugar range was ₹19500-19600/mt and White Sugar ₹19900-₹20000/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.02 meanwhile USD traded with BRL at 3.856, Crude Futures traded at ₹4320, WTI $62.70

•Indices: Benchmark indices, which got off to a positive start, dived in late afternoon trade after private weather forecaster Skymet predicted below-normal monsoon for 2019, stoking fears of a slowdown in growth. All BSE sectoral indices finished with losses, led by oil and gas, telecom, capital goods, and industrials. After swinging nearly 450 points, the 30-share BSE Sensex settled 179.53 points, or lower at 38,877.12. The broader NSE Nifty ended 69.25 points down at 11,643.95.

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SOURCEChiniMandi

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