Daily Sugar Market Update By Vizzie – 08/07/2021

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ChiniMandi, Mumbai: Thursday 8th July 2021
Domestic Market:

Market Scenario:
The market witnessed moderate demand.
State wise Prices as on July 08, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170.
In the resale market S/30 is trading at ₹3020 to ₹3050 whereas M/30 is trading at ₹3070 to ₹3150
– Karnataka : S/30 Sugar rates from millers are ₹3140 to 3200
– Uttar Pradesh: The rates for M/30 are ₹3220 to 3230
– Gujarat: S/30 Sugar rates are ₹3101 to 3131 whereas M/30 rates are at ₹3141 to 3181
– Tamil Nadu: S/30 Sugar rates are ₹3200 to 3250 whereas M/30 rates are at ₹3250 to 3275.
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:

On Wednesday sugar prices closed lower due to a plunge in crude oil prices.

Market Today :
London White Sugar front month contract is trading at $435.60/tn whereas New York Sugar front month contract is trading at 17.53/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28600 to ₹28800 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.772 whereas USD was trading with BRL at 5.2700 Crude futures traded at Rs.5372, Crude WTI traded at $74.772 a barrel. Sensex closed 485.82 points lower at 52,568.94whereas Nifty ended 151.75 points lower at 15,727.90.

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