Daily Sugar Market Update by ‘Vizzie’ – 07/10/2019

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ChiniMandi, Mumbai – Monday 7th October 2019

Domestic: The market was stable, with moderate demand.

Maharashtra: S/30 Sugar trades are taking place at Rs.3125 to Rs.3205/Qntl whereas M/30 trades took place at Rs.3265 to Rs.3375.

Uttar Pradesh: The market trades for M/30 are taking place at Rs.3425 to 3575.

Gujarat: S/30 Sugar is trading at Rs.3211 to Rs.3265 and M/30 Rs.3300 to 3365

Kolkata: The trades for M/30 are taking place at Rs.3820 to 3855.

Tamil Nadu: S/30 Sugar is trading at Rs.3350 to Rs.3480 whereas M/30 is trading at Rs.3425 to 3450.

*All the domestic rates except Kolkata are excluding GST

International Market: There was good demand for white sugar crop 2018/19 ICUMSA below 150 for ready shipments 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 $343.60/tn whereas US Sugar front month contract is trading at 12.63 cnts/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 70.998 meanwhile USD traded with BRL at 4.0625, Crude Futures traded at Rs.3815, Crude WTI traded at $53.58. Indian stock markets fell today, extending losses to the sixth session. Prospects of slower domestic economic growth and concerns over the financial sector hurt the sentiment. The Sensex ended 141.33 points lower at 37,531 while Nifty settled 48.35 points lower at 11,126.40.

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