Daily Sugar Market Update By Vizzie -07/09/2021

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ChiniMandi, Mumbai: Tuesday 7th September 2021

Domestic Market:
The market witnessed scanty demand. Sugar prices are moderately lower across India.
State wise Prices as on 7th September 2021 :

◾ Maharashtra: S/30 Sugar rates from millers are ₹3350 to ₹3450/Qntl. whereas M/30 is at ₹3520 to 3600/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3450 to 3500/Qntl. whereas M/30 is at ₹3530 to 3500/Qntl.
◾ Uttar Pradesh: The rate for M/30 is ₹3600/Qntl.
◾ Gujarat : S/30 Sugar rates were ₹3471 to 3501/Qntl. whereas M/30 is at ₹3581 to 3601/Qntl.
◾ Tamil Nadu: S/30 Sugar rates were at ₹3625 to 3680/Qntl. whereas M/30 rates were at ₹3675 to 3700/Quintal.
(All the above rates are excluding GST.

International Market:

Yesterday’s Closing:
On Monday sugar prices closed moderately lower on Brazilian crop concerns. London White Sugar closed at $486.70/ton down $3.80 whereas New York Sugar did not trade due to Labor Holiday in the USA. .

Market Today:
The London White Sugar front month contract is trading at $485.30/tn whereas the New York Sugar is trading at 19.51/lb.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.484 whereas USD was trading with BRL at 5.1706 Crude futures traded at Rs.5002, Crude WTI traded at $68.02 a barrel. Sensex closed 17.43 points lower at 58,279.48 whereas Nifty ended 15.70 points lower at 17,362.10.

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