Daily Sugar Market Update By Vizzie – 03/12/2020

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ChiniMandi, Mumbai: Thursday 3rd December 2020
Domestic Market: The market witnessed moderate demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl whereas M/30 ₹3250 to 3270.
South Karnataka: S/30 Sugar rates are ₹3190 to 3250 whereas, M/30 rates are ₹3205 to 3300.
Uttar Pradesh: The rates for M/30 are ₹3300 to 3350/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3300 to 3350 whereas, M/30 rates are 3350 to 3375.
(All the above rates are excluding GST)
International Market: On Wednesday, sugar prices initially dropped to 3-1/2 week lows on increased sugar output from India after the India Sugar Mills Association (ISMA) reported that India Oct 1-Nov 30 2020, sugar production surged +107% y/y to 4.29 MMT due to an early start of the crushing season.
London White Sugar front month contract is trading at $404/tn, whereas New York Sugar front month contract is trading at 14.78/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.820 whereas USD was trading with BRL at 5.1846 Crude futures traded at Rs.3340, Crude WTI traded at $45.13 a barrel. Sensex closed 14.61 points higher at 44,632.65 whereas Nifty ended 20.15 points higher at 13,133.90.

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