Daily Sugar Market Update By Vizzie – 04/03/2021

ChiniMandi, Mumbai: Thursday 4th March, 2021

Domestic Market:
The market witnessed moderate demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3210 to 3250. In the resale market S/30 is trading at ₹3030 to ₹3065 whereas M/30 is trading at ₹3075 to ₹3200.
South Karnataka: S/30 rates are ₹3160 to 3195. M/30 rates are ₹3170 to 3250.
Uttar Pradesh: The rates for M/30 are ₹3170 to 3210
In Gujarat: The rates for old S/30 and ₹M/30 3101 to 3111 and new S/30 are prevailing at ₹3121 new M/30 ₹3121 to 3141
Tamil Nadu: S/30 Sugar rates are ₹3220 to 3270 whereas, M/30 rates are 3295
(All the above rates are excluding GST)

International Market:
On Wednesday, sugar prices closed down. A surge in Indian sugar production and weakness in the Brazilian real weighed on prices. According to the latest data from India’s Sugar Mills Association (ISMA) showed that India’s Oct-Feb sugar production rose +20% y/y to 23.38 MMT.

At the time of writing this update London White Sugar front month contract is trading at $461.80/tn, whereas New York Sugar front month contract is trading at 16.26/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27150 to ₹27250 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27150 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 72.757 whereas USD was trading with BRL at 5.6113 Crude futures traded at Rs.4483, Crude WTI traded at $61.47 a barrel. Sensex closed 598.57 points lower at 50,846.08 whereas Nifty ended 164.85 points lower at 15,080.75.

To Listen to this News click on the play button.


Please enter your comment!
Please enter your name here