Daily Sugar Market Update By Vizzie – 05/02/2020

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ChiniMandi, Mumbai: Wednesday 5th February 2020

Domestic: The market witnessed quietness nationwide.
Maharashtra: S/30 Sugar trades are taking place at Rs.3100 to Rs.3150/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3250 to Rs. 3275 whereas M/30 trades are taking place at Rs.3270 to 3325.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to Rs.3375.
Gujarat: S/30 Sugar is trading at Rs.3230 to 3260 whereas M/30 Sugar is trading at Rs.3300 to Rs.3340.
Kolkata: The trades for S/30 are taking place at Rs.3565 to Rs.3580 whereas M/30 trades are taking place at Rs.3600 to Rs.3630.
Tamil Nadu: S/30 Sugar is trading at Rs. 3310  to Rs.3400 whereas M/30 is trading at Rs.3375
*All the domestic rates except Kolkata are excluding GST.


International Market:
  Though the prices have taken a jump, the demand in India hasn’t yet picked pace. Exporters are quite optimistic that the demand would take some pick.

White sugar of season 2018/19 icumsa 150 ready delivery is trading at Rs.23700 to Rs. 23800 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.24100 to Rs.24300 ex. factory basis. The FOB indication for white sugar icumsa 150 season 2018/19 is $372 to $374. For white sugar icumsa 100 Season 2019/20 the FOB indication is $380 to $382.
London White Sugar front month contract is trading at $415.90/tn whereas US Sugar front month contract is trading at 14.80/lb at the time of writing this update.


Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 71.177 meanwhile USD traded with BRL at 4.2338, Crude Futures traded at Rs.3626, Crude WTI traded at $50.84. Indian Indices ended in the green today. Sensex ended today 353.28 points higher at 41,142.66. Similarly, Nifty ended 109.50  points higher at 12,089.15.

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