Daily Sugar Market Update By Vizzie – 06/10/2021

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ChiniMandi, Mumbai: 6th October 2021

Domestic Market:

Market Scenario:
The market witnessed moderate demand.

State wise prices today

◾ Maharashtra:S/30 Sugar rates from millers are ₹3370 to ₹3425/Qntl. whereas M/30 ₹3475 to 3610/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3400 to 3470/Qntl.
◾ Uttar Pradesh: The rates for M/30 were at ₹3700 to 3750/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3381 to 3481/Qntl. whereas M/30 rates are at ₹3521 to 3571.
◾ Tamil Nadu: S/30 Sugar rates are ₹3640 to 3700/Qntl. whereas M/30 rates are at ₹3725/Qntl.

(All the above rates are excluding GST)

International Market:

Yesterday’s Closing:
On Tuesday sugar sugar prices closed slightly higher on a strength in crude oil prices that rallied to a over 6 year high.
London White Sugar closed at $507.50/ton up $4.90 whereas New York Sugar closed down 0.16 points up at 19.85 cents per pound.

Market Today:
The London White Sugar front month contract is trading at $508.80/ton whereas the New York Sugar front month contract is trading at 19.80/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 74.870 whereas USD was trading with BRL at 5.4920 Crude futures traded at Rs.5861 Crude WTI traded at $78.36 a barrel. Sensex closed 555.15 points lower at 59189.73 whereas Nifty ended 176.30 points lower at 17646.00.
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