Daily Sugar Market Update by ‘Vizzie’ 06/11/2019

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ChiniMandi, Mumbai Wednesday 6th November 2019
Domestic: After the announcement of monthly release quota last week, quietness was witnessed in the market.
Maharashtra: S/30 Sugar trades are taking place at Rs. 3065 to Rs.3140/Qntl whereas M/30 trades took place at Rs. 3190 to Rs.3250.
South Karnataka:S/30 trades are taking place from 3225 to 3250 & M-30, 3250 to 3300.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to 3400.
Gujarat: S/30 Sugar is trading at Rs.3130 to Rs.3160 and M/30 Rs.3240 to 3260.
Kolkata: The trades for M/30 are taking place at Rs.3800 to 3810.
Tamil Nadu: S/30 Sugar is trading at Rs.3300 to Rs.3375 whereas M/30 is trading at Rs.3350 to 3400.
*All the domestic rates except Kolkata are excluding GST.

International Market: There is good demand for ready delivery white sugar of season 2018/19. The prices for are at Rs.20500 to Rs.20700 Ex. factory basis. The FOB indication for Indian White Sugar is at $330-332. London White Sugar front month contract is trading at $342.90/tn whereas US Sugar front month contract is trading at 12.62/lb at the time of writing this update.

Currency,Commodity & Indian Indices: The rupee traded against the US dollar at 70.983 meanwhile USD traded with BRL at 4.054, Crude Futures traded at Rs.4054, Crude WTI traded at $57.12. Sensex closed 221.55 points higher at 40,301.96 whereas Nifty 50 closed 48.85 points higher at 11,966.05.

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