Daily Sugar Market Update By Vizzie – 05/08/2020

ChiniMandi, Mumbai: Wednesday 5th August 2020

Domestic Market: There was no major movement in the market. Demand witnessed was scanty.
In Maharashtra: S/30 Sugar rates from millers are ₹3160 to ₹3190/Qntl whereas M/30 ₹3260 to ₹3290.
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 Tuesday sugar prices settled mixed as they consolidated recent gains. New York sugar prices recovered from early losses and closed higher on strength in the Brazilian real, which rose +0.39% against the dollar. Sugar also found support on a rally in crude oil.

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 $377.80/tn, whereas New York Sugar front month contract is trading at 12.93/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.830 whereas USD is trading with BRL at 5.2422, Crude futures traded at Rs.3247 Crude WTI traded at $43.27. Sensex closed 24.58 points lower at 37,663.33 whereas Nifty ended 6.40 points higher at 11,101.65.


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