ChiniMandi, Mumbai: Friday 5th February 2021
The market witnessed good demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3210 to 3250. In the resale market S/30 is trading at ₹2970 to ₹3040 whereas M/30 is trading at ₹3020 to ₹3170
South Karnataka: The rates for S/30 at ₹3100 to 3150 whereas, M/30 rates are ₹3150 to 3200
Uttar Pradesh: The rates for M/30 are ₹3140 to 3200
In Gujarat: The rates for old S/30 3101 and new M/30 are prevailing at ₹3121 to 3131
Tamil Nadu: S/30 Sugar rates are ₹3200 to 3250 whereas, M/30 rates are 3250 to 3300
(All the above rates are excluding GST)
On Thursday sugar prices erased early losses and closed higher on signs of strong demand for Brazil’s ethanol supplies. Brazil’s Trade Ministry reported that Brazil January ethanol exports surged +155% y/y to 200 mln liters.
At the time of writing this update London White Sugar front month contract is trading at $470.10/tn, whereas New York Sugar front month contract is trading at 16.34/lb.
In the Indian market, White sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at Rs.26100 to Rs.26200 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at Rs.26000 to Rs.26100 factory basis. Exporters have been facing problems with shortages of containers and freight rates.
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 72.92 whereas USD was trading with BRL at 5.44707 Crude futures traded at Rs.4147, Crude WTI traded at $56.80 a barrel. Sensex closed 117.34 points higher at 50731.63 whereas Nifty ended 28.60 points higher at 14,924.25–
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