Daily Sugar Market Update By Vizzie – 08/10/2020

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ChiniMandi, Mumbai: Thursday 8th October 2020

Domestic Market: The market was steady.
In Maharashtra: S/30 Sugar rates from millers are ₹3150/Qntl whereas M/30 ₹3240 to 3260

South Karnataka: S/30 Sugar rates are ₹3250 to 3300 whereas, M/30 rates are ₹3275 to 3350.

Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.

Gujarat: The rates for M/30 are at ₹3241 to 3261/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3325 to 3400 whereas, M/30 rates are 3400 to 3450.

(All the above rates are excluding GST)

International Market: According to reports on Wednesday, sugar prices peaked a new high with New York sugar at a 7-month nearest futures high and London sugar at 3-½ month high. Sugar prices have been rallying past three weeks owing to the concern on Brazil’s future output.

London White Sugar front month contract is trading at $385.00/tn, whereas New York Sugar front month contract is trading at 14.13/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.235 whereas USD was trading with BRL at 5.6143 Crude futures traded at Rs.2976, Crude WTI traded at $40.64 a barrel. Indian Indices ended in the green. Sensex closed 303.72 points higher at 40,182.67 whereas Nifty ended 95.75 points higher at 11,834.60.

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