Daily Sugar Market Update By Vizzie – 04/01/2020

415

ChiniMandi, Mumbai: Saturday 4th December, 2019

Domestic: The market witnessed a good demand nationwide with the nearing festive demand of Makar Sankrant and piling of sugar stocks which has begun owing to sharp fall of sugar production in the new sugar season. Marketmen expect the demand to remain good in the upcoming days.

Maharashtra: S/30 Sugar trades are taking place at Rs. 3110 to Rs.3160/Qntl.

South Karnataka: S/30 trades are taking place at 3225 to 3275 whereas M/30 trades are taking place at Rs.3235 to 3325.

Uttar Pradesh: The market trades for M/30 are taking place at Rs.3255 to 3370.

Gujarat: S/30 Sugar is trading at Rs.3200 to Rs.3210 and M/30 Rs.3260 to 3280.

Kolkata: The trades for S/30 are taking place at Rs.3550 to 3570 whereas M/30 trades are taking place at Rs.3620-50

Tamil Nadu: S/30 Sugar is trading at Rs.3300 to Rs.3350 whereas M/30 is trading at 3350 to Rs.3375.

*All the domestic rates except Kolkata are excluding GST.

In the International market, according to reports, sugar prices on Friday rallied as crude prices soared on Middle East tensions. Crude prices surged to an 8-month high benefitting ethanol prices and which could encourage Brazil’s sugar mills to divert more cane crushing to ethanol production rather than sugar production, thus curbing sugar supplies.

Currency, Commodity & Indian Indices: Indian Indices ended marginally lower owing to the escalating geopolitical tension hit over after the U.S. launched a drone attack in Baghdad that killed a top Iranian general. Brent crude prices surged more than four percent in the session on January 3 and gold prices also climbed to a four-month high as tensions mounted in the Middle East.

To Listen to this News click on the play button.

LEAVE A REPLY

Please enter your comment!
Please enter your name here