Daily Sugar Market Update By ‘Vizzie’- 09/04/2019

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ChiniMandi, Mumbai – Tuesday 9th April 2019

• Domestic: The market is witnessing a mixed trend nationwide. In Maharashtra, the burden of stocks is piling up. As per sources, one-third of the month has passed with negligible lifting as proportional to the quota announced along with last month’s quota which has been given an extension by the Govt. Mills are opening their rates at Rs.3100 to Rs.3110/Qntl however the sale is scanty since a few days. In Resell, rates are Rs.2990 to 3020. In Uttar Pradesh, 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 is flat. London White Sugar is trading at $329.10 whereas US Sugar is trading at $12.75.
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 69.33 meanwhile USD traded with BRL at 3.848, Crude Futures traded at ₹4463, WTI $64.27.

•Indices: The BSE benchmark Sensex ended higher on sustained buying in banking and auto stocks towards the fag-end of the session ahead of the earnings season. The 30-share Sensex index settled 238.69 points higher at 38,939.22. In similar movement, the broader NSE Nifty rose 67.45 points to 11,671.95. After a highly volatile session, the market surged towards the fag-end of the trade with BSE bankex, auto, realty and metal indices gaining up to 1.40 percent.

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