Daily Sugar Market Update By Vizzie – 03/06/2020

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ChiniMandi, Mumbai: Wednesday 3rd June 2020
Domestic Market: The market has been steady nationwide, in Maharashtra good demand was witnessed from South India, in Gujarat the demand was quite scanty .
Maharashtra: S/30 Sugar rates are Rs.3100 to 3180 Qntl. M/30 3140 to 3200.
South Karnataka: S/30 rates are Rs.3240 to Rs.3275 whereas M/30 rates are Rs.3325.
Uttar Pradesh: The rates for M/30 rates are Rs.3150 to Rs.3200/Qntl.
Gujarat: The rates for New S/30 are Rs.3151 to 3161 whereas M/30 are at Rs.3091 to 3201/Qntl.
Tamil Nadu: S/30 Sugar rates are Rs.3275 to Rs.3350 whereas M/30 rates are Rs.3325 to 3400.

International Market:
According to reports, on Monday Sugar prices on Monday closed higher on supply concerns as the spread of the coronavirus in Brazil may force sugar mills to close and disrupt the supply of sugar to ports. Brazil has now overtaken Spain and France with the fourth-most Covid-19 deaths globally at 29,314. Brazil has 514,849 confirmed cases of Covid-19., according to Johns Hopkins, second behind the U.S. with 1.798 million.

London White Sugar front month contract is trading at $366.40/tn whereas US Sugar front month contract is trading at 11.06/lb at the time of writing this update.

Currency, Commodity & Indian Indices:The rupee traded against the US dollar at 75.118 whereas USD traded with BRL at 5.3670, Crude futures traded at Rs.2739, Crude WTI traded at $36.39. Indices ended in the green, sensex closed 522.01 points higher at 33,825.53. Similarly, Nifty ended 152.95 points higher at 9,979.10.

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