Daily Sugar Market Update By Vizzie – 08/04/2021

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ChiniMandi, Mumbai: Thursday 8th April 2021
Domestic Market:
The market was steady nationwide, marketmen are skeptical on the sale of quota basis the rising Covid-19 cases.
In Maharashtra: S/30 Sugar rates from millers are ₹3120 to ₹3150/Qntl. whereas M/30 ₹3230 to 3175. In the resale market S/30 is trading at ₹3025 to ₹3075 whereas M/30 is trading at ₹3050 to ₹3150.
South Karnataka: S/30 rates are ₹3235 to 3350 whereas M/30 is ₹3250 to 3500
Uttar Pradesh: The rates for M/30 are ₹3280 to 3320
Gujarat: The rates new S/30 at ₹3201 whereas new M/30 ₹3231 to 3241
Tamil Nadu: S/30 Sugar rates are ₹3270 to 3350 whereas M/30 rates are at ₹3350
(All the above rates are excluding GST)

International Market:
On Wednesday sugar prices settled moderately lower on concerns about demand and the rising Covid-19 cases. At the time of writing this update London White Sugar front month contract is trading at $425.10/tn, whereas New York Sugar front month contract is trading at 15.25/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27250 to ₹27350 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.597 whereas USD was trading with BRL at 5.6147 Crude futures traded at Rs.4442, Crude WTI traded at $59.48 a barrel. Sensex closed 84.45 points higher at 49,746.21 whereas Nifty ended 54.75 points higher at 14,873.80.

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