Daily Sugar Market Update By Vizzie – 05/09/2020

ChiniMandi, Mumbai: Saturday, 5th September 2020
Domestic Market: The market was stable nationwide. No major movement was witnessed nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3160/Qntl whereas M/30 ₹3240 to 3260
South Karnataka: S/30 Sugar rates are ₹3340 to 3400 whereas, M/30 rates are ₹3365 to
Uttar Pradesh: The rates for M/30 are ₹3390 to 3400/Qntl.
Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3390 to 3450 whereas, M/30 rates are ₹3450 to 3500.
(All the above rates are excluding GST)

International Market:
According to reports, on Friday sugar prices settled mixed with New York sugar at a fresh 5-week low. A slump in crude prices weighed on sugar prices as crude fell more than -3% to a 5-week low whereas London sugar posted modest gains Friday on weakness in GBP/USD, which fell to a 1-week low.

London white sugar SWV20 closed up +0.90 at $354.50. New York world sugar SBV20 closed down -0.14 at 11.93/lb.

Currency, Commodity & Indian Indices:
Indian rupee extended gains and traded higher at 73.30 per dollar, crude traded $39.50/barrel. Indian indices ended in the red led by weak global cues and geopolitical tensions. Sensex closed 633.76 points lower at 38,357.18 whereas Nifty ended 193.60 points lower at 11,333.85.

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