Daily Sugar Market Update By Vizzie – 07/07/2020

ChiniMandi, Mumbai: Tuesday 7th July 2020
Domestic Market: The market witnessed moderate demand nationwide.
Maharashtra: S/30 Sugar rates from millers are ₹3200 to ₹3230/Qntl whereas M/30 ₹3300 to ₹3330.
South Karnataka: The rates for S/30 are ₹3370 to 3400/Qntl whereas for M/30 are at ₹3450/Qntl.
Uttar Pradesh: The rates for M/30 are ₹3380/Qntl.
Gujarat: The rates for New S/30 are ₹3321 whereas M/30 are at ₹3351 to 3371/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3400 to Rs.3430 whereas, M/30 rates are ₹3450 to 3475.
(All the above rates are excluding GST)

International Market:
According to reports, on Monday sugar prices closed lower on demand concerns and adequate supplies. Weakness in the Brazilian real against the dollar also weighed on sugar prices as the real dropped -0.65% against the dollar.
London White Sugar front month contract is trading at $349.70/tn, whereas US Sugar front month contract is trading at 11.81/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.841 whereas USD traded with BRL at 5.3629, Crude futures traded at Rs.3026, Crude WTI traded at $40.40. Indices ended in the green, sensex closed187.24 points higher at 36,674.52. Similarly, Nifty ended 36 points higher at 10,799.65.

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