Daily Sugar Market Update By ‘Vizzie’ – 04/07/2019

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ChiniMandi, Mumbai – Thursday 4th July 2019
Indian: The market was stable in Maharashtra ,mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3030 to 3080. In Uttar Pradesh, there was a good demand from Rajasthan & Madhya Pradesh, Mill sales are taking place at Rs.3170 to 3300. In resale, the rates are Rs.3175 to 3300. In Gujarat, S/30 is trading at Rs.3100 to 3130. In Tamil Nadu, Mill trades are taking place at Rs.3225 to Rs.3320 excluding GST.

International: The market continued to be flat. London White Sugar is trading at $320.70 whereas US Sugar is trading at $12.54.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.

The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.570 meanwhile USD traded with BRL at 3.8266, Crude Futures traded at ₹3922, Crude WTI is traded at $57.15. Benchmark indices Sensex and Nifty closed higher in trade today. While Sensex rose 68.81 points to 39,908.06, Nifty gained 30 points to 11,946.75.

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