ChiniMandi, Mumbai: Saturday 9th January 2021
The market witnessed scanty demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl. whereas M/30 ₹3180 to 3250. In the resale market S/30 is trading at ₹2980 to ₹3030
South Karnataka: The rates for S/30 at ₹3100 to 3125 whereas, M/30 rates are ₹3140 to 3175. Uttar Pradesh: The rates for M/30 are ₹3230
Gujarat: The rates for S/30 are ₹3101 whereas M/30 are at ₹3141/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3230 to 3325 whereas, M/30 rates are 3275 to 3325.
(All the above rates are excluding GST)
According to reports on Friday sugar prices settled mixed they initially moved higher on news of smaller sugar output from Thailand, the world’s second-largest sugar exporter. Data on Friday from the Thai Sugar Millers Corp showed that Thailand’s cane output in the first month of the 2020/21 crushing season through January 6 was 11.96 MT, down -45.6% from the same time last year. However, weakness in the Brazilian real against the dollar on Friday weighed on sugar prices after the real fell to a 1-1/2 month low against the dollar, which prompted sugar prices to fall back and give up most of their gains. A weaker real encourages export selling by Brazil’s sugar producers.
March NY world sugar #11 (SBH21) on Friday settled unchanged, and March London white sugar #5 (SWH21) closed up +1.90 (+0.44%).
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.340 whereas USD was trading with BRL at 5.4181 Crude futures traded at Rs.3789, Crude WTI traded at $52.72 a barrel. Sensex closed 689.19 points higher at 48782.51 whereas Nifty ended 209.90 points higher at 14347.25.