Daily Sugar Market Update By Vizzie – 08/07/2020

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ChiniMandi, Mumbai: Wednesday 8th July 2020
Domestic Market: The market witnessed moderate demand nationwide.
Maharashtra: S/30 Sugar rates from millers are ₹3210 to ₹3250/Qntl whereas M/30 ₹3310 to 3350₹
South Karnataka: The rates for S/30 are ₹3450/Qntl whereas for M/30 are at ₹3500/Qntl.
Uttar Pradesh: The rates for M/30 are ₹3380/Qntl.
Gujarat: The rates for New S/30 are ₹3321 whereas M/30 are at ₹3351 to 3371/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3430 to Rs.3500 whereas, M/30 rates are ₹3480 to 3550.
(All the above rates are excluding GST)

International Market:
According to reports, on Monday sugar prices closed lower on demand concerns and adequate supplies. Weakness in the Brazilian real against the dollar also weighed on sugar prices as the real dropped -0.65% against the dollar.
London White Sugar front month contract is trading at $351.80/tn, whereas US Sugar front month contract is trading at 12.13/lb at the time of writing this update.
Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.988 whereas USD traded with BRL at 5.3570, Crude futures traded at Rs.3059, Crude WTI traded at $40.73. Indices ended in the red, sensex closed 345.51 points lower at 36,329.01. Similarly, Nifty ended 93.90 points lower at 10,705.75.

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