Daily Sugar Market Update By Vizzie – 07/12/2020

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ChiniMandi, Mumbai: Monday 7th December 2020

Domestic Market: The market witnessed scattered demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl whereas M/30 ₹3250 to 3270.
South Karnataka: S/30 Sugar rates are ₹3150 to 3175 whereas, M/30 rates are ₹3325 to 3350.
Uttar Pradesh: The rates for M/30 are ₹3275 to 3300/Qntl.
Gujarat: The rates for M/30 are at ₹3151 to 3201/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3275 to 3350 whereas, M/30 rates are 3325 to 3350.
(All the above rates are excluding GST)

International Market: According to reports on Friday, sugar prices settled lower. A surge in Brazil sugar exports weighed on prices after Thursday’s news that Brazil’s Nov sugar exports rose +60% y/y to 3.1 MMT.

Today the market opened lower. London White Sugar front month contract is trading at $396.10/tn, whereas New York Sugar front month contract is trading at 14.39/lb while writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.911 whereas USD was trading with BRL at 5.1598 Crude futures traded at Rs.3387, Crude WTI traded at $45.75 a barrel. Sensex closed 347.42 points higher at 45,426.97 whereas Nifty ended 97.20 points higher at 13,355.75.

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