Daily Sugar Market Update By ‘Vizzie’ – 09/07/2019

ChiniMandi, Mumbai – Tuesday 9th July 2019

Indian: There was no major movement. In Maharashtra,mills are opening their sugar rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3030 to 3075. In Uttar Pradesh, there was a good demand from Rajasthan & Madhya Pradesh, Mill sales are taking place at Rs.3170 to 3300. In resale, the rates are Rs.3185 to 3310. In Gujarat, S/30 is trading at Rs.3100 to 3130. In Tamil Nadu, Mill trades are taking place at Rs.3200 to Rs.3260 excluding GST.

International:
The sugar market continued to be flat. London White Sugar price is trading at $319.00 whereas US Sugar price is trading at $12.34.
The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.
The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.555 meanwhile USD traded with BRL at 3.8029, Crude Futures traded at ₹3975, Crude WTI is traded at $57.94. Benchmark indices witnessed a volatile trade and ended the session on a flat note. The Sensex close today 10.25 points higher at 38,731 levels the broader Nifty50, too, settled 2.7 points lower at 11,556 levels.

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