Daily Sugar Market Update by ‘Vizzie’ 08/11/2019

ChiniMandi, Mumbai Friday, 8th November 2019
Domestic: The market has continued to remain quite across the nation leaving millers piled up with stocks.
Maharashtra: S/30 Sugar trades are taking place at Rs. 3050 to Rs.3100/Qntl whereas M/30 trades took place at Rs. 3190 to Rs.3250.
South Karnataka:S/30 trades are taking place from 3225 to 3250 & M-30, 3250 to 3300.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to 3400.
Gujarat: S/30 Sugar is trading at Rs.3125 to Rs.3160 and M/30 Rs.3250 to 3300.
Kolkata: The trades for S/30 are taking place at Rs.3550 to 3560.
Tamil Nadu: S/30 Sugar is trading at Rs.3250 to Rs.3375 whereas M/30 is trading at Rs.3300 to 3400
*All the domestic rates except Kolkata are excluding GST.

International Market: There is good demand for ready delivery white sugar of season 2018/19. The prices for are at Rs.20500 to Rs.20700 Ex. factory basis. The FOB indication for Indian White Sugar is at $330-332. London White Sugar front month contract is trading at $331.10/tn whereas US Sugar front month contract is trading at 12.34/lb at the time of writing this update.

Currency,Commodity & Indian Indices: The rupee traded against the US dollar at 71.268 meanwhile USD traded with BRL at 4.1131, Crude Futures traded at Rs.4010, Crude WTI traded at $56.31. Sensex closed 330.13 points lower at 40,323.61 whereas Nifty 50 closed 103.90 points lower at 11,908.15.

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