Daily Sugar Market Update by ‘Vizzie’ – 04/09/2019

ChiniMandi, Mumbai – Wednesday 4th September 2019

Domestic: The market witnessed mixed trend nationwide. In Maharashtra, the market took a slower pace due to heavy rains in western Maharashtra. Mills are opening their rates at Rs.3270 to Rs.3370/Qntl, whereas in Resell, prices are Rs.3230 to 3320. In Uttar Pradesh, Mill sales are taking place at Rs.3320 to 3460. In resale, the rates are Rs.3410 to 3450. In Gujarat, S/30 is trading at Rs.3310 to 3410. In Tamil Nadu, Mill trades are taking place at Rs.3440 to 3545 excluding GST.

International: The market was stable. London White Sugar is trading at $306.60 whereas US Sugar is trading at $11.22. The FOB indication for raw sugar was at $335-$340 and Indian White Sugar at $348-$353. The demand of Raw Sugar range was ₹20800-21000/mt and White Sugar ₹21700-₹22000/MT on Ex.factory basis. (Note: The above prices are just indications not offers from any exporters.)

Currency,Commodity & Indian Indices: The rupee was trading against the US dollar at 72.038 meanwhile USD traded with BRL at 4.1421, Crude Futures traded at ₹3957, Crude WTI is trading at $54.84. Sensex on 4th September 2019 ended 161.83 points higher at 36,724.74. Similarly, NSE Nifty ended 46.75 up at 10,844.65.

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