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

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ChiniMandi, Mumbai: Saturday 8th August 2020
Domestic Market: The market witnessed moderate demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3150 to ₹3180/Qntl whereas M/30 ₹3150 to ₹3280.
South Karnataka: S/30 Sugar rates are ₹3370 to 3450 whereas, M/30 rates are ₹3500.
Uttar Pradesh: The rates for M/30 are ₹3325 to ₹3340/Qntl.
Gujarat: The rates for New S/30 are ₹3251 to ₹3261 whereas M/30 are at ₹3281 to 3285/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3400 to 3475 whereas, M/30 rates are ₹3450 to ₹3500.
(All the above rates are excluding GST)

International Market: According to reports on Friday, sugar prices posted moderate losses as New York sugar retreated from a 5-month high on global sugar crop concerns. A decline in crude oil prices along with weakness in the Brazilian real against the dollar, has sparked long liquidation in sugar futures.Sugar prices have pushed higher over the past two weeks.

London white sugar closed down -5.40 at $372.30 whereas New York closed down -0.27 at 12.67/lb .
Currency, Commodity & Indian Indices: Indian indices ended flat after a volatile session amid weak global markets. Indian rupee traded lower at 74.98 per dollar, down on back of weak domestic equities and emergence of demand for the US currency from banks and importers.

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