Daily Sugar Market Update By Vizzie – 08/03/2021

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ChiniMandi, Mumbai: Monday 8th March 2021

Domestic Market:
The market witnessed moderate demand.

In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3210 to 3250. In the resale market S/30 is trading at ₹3020 to ₹3055 whereas M/30 is trading at ₹3065 to ₹3190.
South Karnataka: S/30 rates are ₹3150 to 3175. M/30 rates are ₹3225.
Uttar Pradesh: The rates for M/30 are ₹3170 to 3210
Gujarat: The rates for old S/30 and ₹M/30 at 3101 to 3111 and new S/30 are prevailing at ₹3121 new M/30 ₹3121 to 3141
Tamil Nadu: S/30 Sugar rates are ₹3190 to 3250 whereas, M/30 rates are 3240 to 3275.
(All the above rates are excluding GST)

International Market:
On Friday sugar prices settled moderately higher on strength in crude oil prices.
At the time of writing this update London White Sugar front month contract is trading at $464.60/tn, whereas New York Sugar front month contract is trading at 16.43/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27150 to ₹27250 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27150 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.304 whereas USD was trading with BRL at 5.7393 Crude futures traded at Rs.4877, Crude WTI traded at $66.34 a barrel. Sensex closed 35.75 points higher at 50,441.07 whereas Nifty ended 18.10 points higher at 14,956.20.

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