Daily Sugar Market Update By Vizzie – 09/08/2021

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ChiniMandi, Mumbai: Monday 9th August 2021

Domestic Market:

Domestic Market Scenario:
The market was stable
State wise Prices as on 9th August 2021 :
◾ Maharashtra: S/30 Sugar rates from millers are ₹3130 to ₹3190/Qntl. whereas M/30 ₹3200 to 3250/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3260 to 3285/Qntl. whereas M/30 is at ₹3290 to 3335.
◾ Uttar Pradesh: The rate for M/30 is ₹3390/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3181 to 3191/Qntl. whereas M/30 rates are at ₹3291 to 3311/Qntl.
◾ Tamil Nadu: S/30 Sugar rates are ₹3300 to 3360/Qntl. whereas M/30 rates are at ₹3350 to 3400/Qntl.
(All the above rates are excluding GST)

International Market:
Yesterday’s Closing:
On Friday, sugar prices closed mixed on concern that Brazil’s sugar production will sharply decline due to frost and drought damage. London White Sugar closed at $459.60/ton down $2.20 whereas New York Sugar closed at 18.68 cents per pound, up 0.06 points.

Market Today :
The London White Sugar front month contract is trading at $455.90/tn whereas the New York Sugar front month contract is trading at 18.49/lb.

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹29500 to ₹29700 on ex factory basis – ready delivery for season 2020-21. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹29200 to ₹29500 factory basis for forward contract with delivery in Nov/Dec 2021 for season 2021-22.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.285 whereas USD was trading with BRL at 5.2318 Crude futures traded at Rs.4866, Crude WTI traded at $65.42 a barrel. Sensex closed 125.13 points higher at 54,402.85 whereas Nifty ended 20.05 points higher at 16,258.25.

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