Daily Sugar Market Update By Vizzie – 04/08/2021

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ChiniMandi, Mumbai: Wednesday 4th August 2021

Domestic Market:

Domestic Market Scenario:

The market sentiments are positive, good demand has been witnessed and prices have remained firm.
State wise Prices as on 4th August 2021 :
◾ Maharashtra: S/30 Sugar rates from millers are ₹3150 to ₹3200/Qntl. whereas M/30 ₹3210 to 3285/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3270 to 3300/Qntl. whereas M/30 is at ₹3300
◾ Uttar Pradesh: The rate for M/30 is ₹3350/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3151 to 3171/Qntl. whereas M/30 rates are at ₹3251 to 3281/Qntl.
◾ Tamil Nadu: S/30 Sugar rates are ₹3310 to 3350/Qntl. whereas M/30 rates are at ₹3310 to 3360 to 3375/Qntl.
(All the above rates are excluding GST)

International Market:
Yesterday’s Closing:
On Tuesday, sugar prices closed moderately higher on concerns over Brazil’s sugarcane crop. London White Sugar closed at $449.60/ton up $2.30 whereas New York Sugar closed at 17.98 cents per pound, up 2.30 points.

Market Today:
The London White Sugar front month contract is trading at $449/tn whereas the New York Sugar front month contract is trading at 17.99/lb.

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹29000 to ₹29200 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28400 to ₹28600 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.155 whereas USD was trading with BRL at 5.1974 Crude futures traded at Rs.5126, Crude WTI traded at $69.00 a barrel. Sensex closed 546.41 points higher at 54,369.77 whereas Nifty ended 128.05 points higher at 16,258.80.

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