Daily Sugar Market Update By Vizzie – 07/07/2021

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ChiniMandi, Mumbai: Wednesday 7th July 2021
Domestic Market:

Market Scenario:
The market witnessed moderate demand.

State wise Prices as on July 07, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170.
In the resale market S/30 is trading at ₹3020 to ₹3050 whereas M/30 is trading at ₹3070 to ₹3150
– Karnataka : S/30 Sugar rates from millers are ₹3150 to 3200
– Uttar Pradesh: The rates for M/30 are ₹3220 to 3230
– Gujarat: S/30 Sugar rates are ₹3101 to 3131 whereas M/30 rates are at ₹3141 to 3181
– Tamil Nadu: S/30 Sugar rates are ₹3200 to 3250 whereas M/30 rates are at ₹3250 to 3275.
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:

On Tuesday sugar prices closed lower on concerns over the sugarcane crop in Brazil yet remain unconcluded with the await of assessment. London white sugar closed at $444/ton down $7.40 whereas New York Stock Exchange closed at 17.87 cents per pound, down 0.28 points.

Market Today :
London White Sugar front month contract is trading at $436.60/tn whereas New York Sugar front month contract is trading at 17.69/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28600 to ₹28800 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.688 whereas USD was trading with BRL at 5.2013 Crude futures traded at Rs.5516, Crude WTI traded at $73.84 a barrel. Sensex closed 193.58 points lower at 53,054.76 whereas Nifty ended 61.40 points lower at 15,879.65.

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