Daily Sugar Market Update By Vizzie – 04/05/2020

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ChiniMandi, Mumbai: Monday 5th May 2020
Domestic Market: The market has been steady nationwide.
Maharashtra: S/30 Sugar rates are Rs.3040 to Rs.3100/Qntl.
South Karnataka: S/30 rates are Rs.3270 to Rs.3300 whereas M/30 rates are Rs.3350.
Uttar Pradesh: The rates for M/30 rates are Rs.3100 to Rs.3110/Qntl.
Gujarat: The rates for New S/30 are Rs.3150 whereas M/30 are at 3190 to 3200/Qntl.
Tamil Nadu: S/30 Sugar rates are Rs.3275 to Rs.3400 whereas M/30 rates are Rs.3350 to 3400.

International: According to reports, sugar prices on Friday rallied sharply for a third day with NY sugar at a 1-month high and London sugar at a 1-1/2 month high. Sugar prices found support Friday from a +4% jump in crude oil prices to a 1-1/2 week high, which benefits ethanol prices and is supportive for sugar prices.

London White Sugar front month contract is trading at $331.30/tn whereas US Sugar front month contract is trading at 10.75/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 76.615 whereas USD traded with BRL at 5.4861, Crude futures traded at Rs.1437, Crude WTI traded at $18.80.
Indices ended in the red, Sensex closed 2002.27 points lower at 31,715.35. Similarly, Nifty ended 566.40 points lower at 9,293.50.

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