Daily Sugar Market Update By Vizzie – 08/04/2020


ChiniMandi, Mumbai: Wednesday 8th April 2020
Domestic Market: With the lockdown nationwide, trades in larger quantities aren’t taking place smoothly.
Maharashtra: S/30 Sugar rates are Rs.3050 to Rs.3140/Qntl.
South Karnataka: S/30 rates are Rs.3370 to 3450 whereas M/30 rates are Rs.3420 to 3500/Qntl.
Uttar Pradesh: The rates for M/30 rates are Rs.3180 to Rs.3260/Qntl.
Gujarat: The rates for New S/30 are Rs.3241 whereas M/30 are at 3321 to 3431/Qntl.
Tamil Nadu: S/30 Sugar rates are Rs.3500 to Rs.3600 whereas M/30 rates are Rs.3550 to 3650.
Kolkata: The rates for S/30 are Rs.3560 to Rs.3570 whereas M/30 rates are at Rs.3600/Qntl.
*All the domestic rates except Kolkata are excluding GST

According to reports, sugar prices on Tuesday moved lower with London sugar at a 4-1/2 month low. NY sugar is consolidating just above last Wednesday’s 1-1/2 year low as sugar prices continue to be undercut by concern about weaker sugar demand due to the coronavirus pandemic.

London White Sugar front month contract is trading at $334.00/tn whereas US Sugar front month contract is trading at 10.38/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 76.229 whereas USD traded with BRL at 5.2130, Crude futures traded at Rs.1894, Crude WTI traded at $24.12. Indices ended in the red, sensex closed 173.25 points lower at 28,893.96. Similarly, Nifty ended 43.45 points lower at 8,748.75.


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