Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Thursday 6th June  2019

Indian: With the delayed monsoon the sugar prices in the market were yet firm nationwide. Sugar mills in Maharashtra, are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell price are Rs.3040 to 3070. In Uttar Pradesh, Mill sales are taking place at Rs.3260 to 3320. In resale, the sugar market rates are Rs.3250 to 3300. In Gujarat, S/30 is trading at Rs.3140 to 3200. In Tamil Nadu, Mill trades are taking place at Rs.3250 to Rs.3350 excluding GST.

International: Sugar market was stable.

London White Sugar price is trading at $336.80 whereas US Sugar prices  is trading at $12.34.

The FOB indication for raw sugar price was at $332-$335 and Indian White Sugar at $348-$350.

The demand of Raw Sugar range was ₹20800-21100/mt and White Sugar ₹21800-₹22000/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.26 meanwhile USD traded with BRL at 3.881, Crude Futures traded at ₹3612, Crude WTI is trading at $52.03

Indices: The BSE Sensex on Thursday crashed by 553.82 points to settle at 39,529.72 the biggest one-day loss in 2019 by financials and bank stocks even though the (RBI) reduced the repo rate by 25 basis points (bps) to 5.75 per cent in the second bi-monthly monetary policy meet of the financial year 2019-20 (FY20). The Nifty of National Stock Exchange (NSE) too dropped by 177.90 points at 11,843.75.

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