Daily Sugar Market Update By ‘Vizzie’ – 08/07/2019

ChiniMandi, Mumbai – Monday 8th July 2019

Indian: The Sugar market was stable in Maharashtra, mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3030 to 3075. In Uttar Pradesh, there was a good demand from Rajasthan & Madhya Pradesh, Mill sales are taking place at Rs.3170 to 3300. In resale, the rates are Rs.3185 to 3310. In Gujarat, S/30 is trading at Rs.3100 to 3130. In Tamil Nadu, Mill trades are taking place at Rs.3225 to Rs.3260 excluding GST.

International:
The sugar market continued to be flat. London White Sugar price is trading at $320.60 whereas US Sugar price is trading at $12.44.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.
The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.557 meanwhile USD traded with BRL at 3.8048, Crude Futures traded at ₹3937, Crude WTI is traded at $57.33. Benchmark indices, BSE Sensex and NSE Nifty50, fell sharply on Monday, due to a sharp sell-off in global equities. The Sensex settled 793 points lower at 38,720.57 at close, while the Nifty dipped 252.60 points to end at 11,558.60.

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