Daily Sugar Market Update By Vizzie – 03/08/2021

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ChiniMandi, Mumbai: Tuesday 3rd August 2021

Domestic Market:

Domestic Market Scenario:
The market sentiments are positive, prices have been tsurging since last week and massive profit bookings have been observed by traders.

State wise Prices as on 3rd August 2021:
◾ Maharashtra: S/30 Sugar rates from millers are ₹3150 to ₹3200/Qntl. whereas M/30 ₹3210 to 3285/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3250 to 3300/Qntl.
◾ Uttar Pradesh: The rate for M/30 is ₹3350/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3151 to 3171/Qntl. whereas M/30 rates are at ₹3251 to 3281/Qntl.
◾ Tamil Nadu: S/30 Sugar rates are ₹3325/Qntl. whereas M/30 rates are at ₹3375/Qntl.
(All the above rates are excluding GST)

International Market:
Yesterday’s Closing:
On Monday, sugar prices closed moderately higher on concerns over Brazil’s sugarcane crop.

Market Today:
London White Sugar front month contract is trading at $445.20/tn whereas New York Sugar front month contract is trading at 17.83/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹29000 to ₹29200 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28400 to ₹28600 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.243 whereas USD was trading with BRL at 5.2420 Crude futures traded at Rs.5177, Crude WTI traded at $69.66 a barrel. Sensex closed 872.73 points higher at 52,823.36 whereas Nifty ended 245.80 points higher at 16,130.75.

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