Daily Sugar Market Update By Vizzie – 09/07/2020

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ChiniMandi, Mumbai: Thursday 9th July 2020
Domestic Market: The market witnessed moderate demand nationwide.
Maharashtra: S/30 Sugar rates from millers are ₹3210 to ₹3250/Qntl whereas M/30 ₹3310 to ₹3350.
South Karnataka: The rates for S/30 are ₹3450/Qntl whereas for M/30 are at ₹3500/Qntl.
Uttar Pradesh: The rates for M/30 are ₹3405/Qntl.
Gujarat: The rates for New S/30 are ₹3331 whereas M/30 are at ₹3361/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3430 to Rs.3500 whereas, M/30 rates are ₹3480 to 3550.
(All the above rates are excluding GST)

International Market: According to reports, on Wednesday sugar prices gave up an early rally and closed lower on suspect demand and the outlook for ample supplies.
London White Sugar front month contract is trading at $350.10/tn, whereas US Sugar front month contract is trading at 11.97/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.984 whereas USD traded with BRL at 5.3104, Crude futures traded at Rs.3066, Crude WTI traded at $40.84. Indices ended in the green, sensex closed 408.68 points higher at 36,737.69. Similarly, Nifty ended 101.70 points higher at 10,813.45.

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