Daily Sugar Market Update By Vizzie – 04/08/2020

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ChiniMandi, Mumbai: Tuesday 4th August 2020

Domestic Market: The market witnessed moderate demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3160 to ₹3200/Qntl whereas M/30 ₹3260 to ₹3300.
South Karnataka: S/30 Sugar rates are ₹3370 to 3450 whereas, M/30 rates are ₹3500.

Uttar Pradesh: The rates for M/30 are ₹3300 to 3340/Qntl.

Gujarat: The rates for New S/30 are ₹3251 to 3261 whereas M/30 are at ₹3281 to 3291/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3400 to 3475 whereas, M/30 rates are ₹3450 to 3500

(All the above rates are excluding GST)

International Market: According to reports, on Monday sugar prices settled mixed after seeing downward pressure with concerns that ample production in Brazil and India may keep sugar supplies plentiful.

New York sugar prices closed at a new 4-3/4 month high. A +2% rally in crude oil boosted ethanol prices too. Prices were also undercut by weakness in the Brazilian real, which tumbled -1.77% to a 2-week low against the dollar.

White sugar of the season 2019/20 icumsa 100 ready delivery is trading at Rs.24000 to Rs. 24200 on ex factory basis. The FOB indication For white sugar icumsa 100 Season 2019/20 is $363 to $365.

London White Sugar front month contract is trading at $371.60/tn, whereas New York Sugar front month contract is trading at 12.63/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 75.104 whereas USD is trading with BRL at 5.3205, Crude futures traded at Rs.3031 Crude WTI traded at $40.27. Indian indices ended in the green, Sensex closed 748.31 points lower at 37,687.91. Similarly, Nifty ended 203.65 points higher at 11,095.25.

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