Daily Sugar Market Update By Vizzie – 08/12/2020

ChiniMandi, Mumbai: Tuesday 8th December 2020

Domestic Market: The market witnessed poor demand. Sugar millers have been under selling pressure to improve their cash flows.

In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3140/Qntl whereas M/30 ₹3200 to 3240. In the resale market S/30 is trading at ₹3020 to ₹3100.
South Karnataka:  S/30 Sugar rates are ₹3150 to 3175 whereas, M/30 rates are ₹3325 to 3350.
Uttar Pradesh: The rates for M/30 are ₹3275  to 3300/Qntl.
Gujarat: The rates for M/30 are at ₹3151 to 3201/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3275 to 3350 whereas, M/30 rates are 3325 to 3350.
(All the above rates are excluding GST)

International Market: According to reports on Monday, sugar prices recovered from 1-month lows and witnessed modest gains on strength in the Brazilian real.

Today the market opened sluggish. London White Sugar front month contract is trading at $397.40/tn, whereas New York Sugar front month contract is trading at 14.46/lb.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.608 whereas USD was trading with BRL at 5.1598 Crude futures traded at Rs.3387, Crude WTI traded at $45.75 a barrel. Sensex closed 347.42 points higher at 45,426.97 whereas Nifty ended  97.20 points higher at 13,355.75.

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