Daily Sugar Market Update By Vizzie – 07/09/2020

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ChiniMandi, Mumbai: Monday, 7th September 2020

Domestic Market: The market was stable nationwide. No major movement was witnessed nationwide.

In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3170/Qntl whereas M/30 ₹3240 to 3260

South Karnataka:  S/30 Sugar rates are ₹3340 to 3400 whereas, M/30 rates are ₹3365 to 3450.

Uttar Pradesh: The rates for M/30 are ₹3390  to 3400/Qntl.

Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3390 to 3450 whereas, M/30 rates are ₹3450 to 3500.

(All the above rates are excluding GST)

International Market: According to reports, on Friday sugar prices settled mixed with New York sugar at a fresh 5-week low. A slump in crude prices weighed on sugar prices as crude fell more than -3% to a 5-week low whereas London sugar posted modest gains Friday on weakness in GBP/USD, which fell to a 1-week low.

London White Sugar front month contract is trading at $359.10/tn, whereas New York Sugar front month contract is trading at 11.93/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.489 whereas USD is trading with BRL at 5.2998, Crude futures traded at Rs.2874, Crude WTI traded at $39.08 a barrel. Indian Indices ended in the green. Sensex closed 60.05 points higher at 38,417.23 whereas Nifty ended 21.20 points higher at 11,355.05.

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