Daily Sugar Market Update By Vizzie – 05/10/2021

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ChiniMandi, Mumbai: 5th October 2021
Domestic Market:

Market Scenario:
The market witnessed moderate demand.
State wise prices today
◾ Maharashtra:S/30 Sugar rates from millers are ₹3375 to ₹3440/Qntl. whereas M/30 ₹3490 to 3630/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3430 to 3475Qntl.
◾ Uttar Pradesh: The rates for M/30 were at ₹3725 to 3750/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3411 to 3501/Qntl. whereas M/30 rates are at ₹3541 to 3591.
◾ Tamil Nadu: S/30 Sugar rates are ₹3620 to 3650/Qntl. whereas M/30 rates are at ₹3700/Qntl.
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:
On Monday sugar sugar prices closed lower after reports came on the outlook of abundant exports from India and the weakness in Brazilian Real.
London White Sugar closed at $502.60/ton down $8.30 whereas New York Sugar closed down 0.37 points down at 19.69 cents per pound.

Market Today:
The London White Sugar front month contract is trading at $511.30/ton whereas the New York Sugar front month contract is trading at 19.96/lb.

Indian Export Rates Today
In the Indian market, white sugar for the season 2021/22 icumsa 100 delivery November and December 2021 for exports is trading at ₹31500 to ₹31700 on ex factory basis. Demand for Raw sugar of the 2020/21 icumsa between 600-1200 is at ₹30600 to ₹31700 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.561 whereas USD was trading with BRL at 5.4674 Crude futures traded at Rs.5901 Crude WTI traded at $79.12 a barrel. Sensex closed 445.56 points higher at 59744.88 whereas Nifty ended 131.05 points higher at 17,822.30.

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