Daily Sugar Market Update By Vizzie – 04/01/2021

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ChiniMandi, Mumbai: Monday 4th January 2020

Domestic Market:
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl. whereas M/30 ₹3180 to 3250. In the resale market S/30 is trading at ₹2980 to ₹3030
South Karnataka:  The rates for S/30 at ₹3100 to 3200 whereas, M/30 rates are ₹3140 to 3250. Uttar Pradesh: The rates for M/30 are ₹3230
Gujarat: The rates for S/30 are ₹3101 whereas M/30 are at ₹3111/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3240 to 3350 whereas, M/30 rates are 3300 to 3325.
(All the above rates are excluding GST)

International Market:
Last week sugar prices closed high on continued support from strong demand from Asia.

At the time of writing this update London White Sugar front month contract is trading at $431.20/tn, whereas New York Sugar front month contract is trading at 15.91 c/lb.

In the Indian market,
Maharashtra :
White sugar of the season 2020/21 icumsa 100 ready delivery is trading at Rs.25900 to Rs. 26100 on ex factory basis.
Demand for Raw sugar of season 2020/21 icumsa between 600- 1200 is at Rs.25900 to Rs.26000 ex. factory basis.

Uttar Pradesh :
White sugar of the season 2020/21 icumsa 100 ready delivery is trading at Rs.25900 to Rs. 26100 on ex factory basis.
Offer for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at Rs.27200 to Rs.27400 delivered at Kandla.

USD 383 FOB West Coast India telequel for January shipment.
USD 386 FOB West Coast India telequel for February shipment.
USD 388 FOB West Coast India telequel for March shipment.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.040 whereas USD was trading with BRL at 5.1397 Crude futures traded at Rs.3551, Crude WTI traded at $48.52 a barrel. Sensex closed 307.82 points higher at 48176.80 whereas Nifty ended 114.40 points higher at 14,132.90.

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