Daily Sugar Market Update by ‘Vizzie’ – 03/10/2019

ChiniMandi, Mumbai – Thursday 3rd October 2019

Domestic: The market witnessed scanty demand. The market was down Rs.5 to Rs.10
Maharashtra: S/30 Sugar trades are taking place at Rs.3125 to Rs.3205/Qntl whereas M/30 trades took place at Rs.3265 to Rs.3375.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3425 to 3575.
Gujarat: S/30 Sugar is trading at Rs.3175 to Rs.3265 and M/30 Rs.3300 to 3365
Kolkata: The trades for M/30 are taking place at Rs.3820 to 3855.
Tamil Nadu: S/30 Sugar is trading at Rs.3350 to Rs.3480 whereas M/30 is trading at Rs.3425 to 3450.
*All the domestic rates except Kolkata are excluding GST

International Market: There was good demand. London White Sugar front month contract is trading at $344.40/tn whereas US Sugar front month contract is trading at 12.83 cnts/lb at the time of writing this update. The FOB indication for Indian White Sugar at $322-324. The demand of White Sugar was ₹21000-₹21200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 70.956 meanwhile USD traded with BRL at 4.1239, Crude Futures traded at Rs.3733, Crude WTI traded at $52.48. Indian indices fell in volatile trade on Thursday with benchmark indices extending losses to the fourth session in a row, amid weakness in Asian peers. Sensex closed 198.54 points lower at 38,106.87 whereas Nifty50 closed 45.90 points lower at 11,314.00.

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