Daily Sugar Market Update by ‘Vizzie’

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ChiniMandi, Mumbai – Monday 8th April 2019

Domestic: The week began with market witnessing a mixed trend nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3110/Qntl however the sale is scanty. In Resell, rates are Rs.2990 to 3030. In Uttar Pradesh the demand was stable like last week, mill sales are taking place at Rs.3190 to 3230. In resale, the market rates are Rs.3135 to 3170. In Gujarat, S/30 is trading at Rs.3110 to 3120. In Tamil Nadu, Mill trades are taking place at Rs.3225 to Rs.3300 excluding GST.

International: The market did not witness any major movement. London White Sugar is trading at $327.50 whereas US Sugar is trading at $12.65.

The FOB indication for raw sugar was at $308-$310 and Indian White Sugar at $320-$322.

The demand of Raw Sugar range was ₹19300-19500/mt and White Sugar ₹19700-₹19900/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.53 meanwhile USD traded with BRL at 3.875, Crude Futures traded at ₹4401, WTI $63.19.

• Indices: Equity benchmarks Sensex and Nifty were hit by volatility and registered losses on Monday as investors turn cautious ahead of the start of corporate earnings season and polling for the general elections. The BSE gauge Sensex ended lower by 161.70 points at 38,700.53, while the NSE Nifty lost 61.45 points to settle the day at 11,604.50.

SOURCEChiniMandi

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