Daily Sugar Market Update By Vizzie – 05/11/2020

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ChiniMandi, Mumbai: Thursday 5th November 2020
Domestic Market:  Scattered demand was witnessed nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3125 to ₹3150/Qntl whereas M/30 ₹3240 to 3270
South Karnataka: S/30 Sugar rates are ₹3195 to 3260 whereas, M/30 rates are ₹3235 to 3310.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3285/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3300 to 3375 whereas, M/30 rates are 3425.
(All the above rates are excluding GST)

International Market:
According to reports on Wednesday sugar prices extended Tuesday’s losses on forecasts for rain in the sugar-growing areas of Brazil, which eases crop concerns and sparked long liquidation pressure in sugar futures.

London White Sugar front month contract is trading at $394.2/tn, whereas New York Sugar front month contract is trading at 14.67/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.076 whereas USD was trading with BRL at 5.6002 Crude futures traded at Rs.2877, Crude WTI traded at $38.81 a barrel. Indian Indices ended in the green. Sensex closed 724.02 points higher at 41,340.16 whereas Nifty ended 211.80 points higher at 12,120.80.

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