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

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ChiniMandi, Mumbai: Wednesday, 9th September 2020
Domestic Market: The market continued to remain stable nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3170/Qntl whereas M/30 rates are ₹3240 to ₹3260.
South Karnataka: S/30 Sugar rates are ₹3320 to 3400 whereas, M/30 rates are ₹3350 to ₹3450.
Uttar Pradesh: The rates for M/30 are ₹3360 to 3400/Qntl.
Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3400 to ₹3450 whereas, M/30 rates are ₹3450 to ₹3500.
(All the above rates are excluding GST)

International Market: According to reports, on Tuesday, sugar prices closed higher. Sugar prices initially opened lower as the slump in crude prices weighed on sugar. Crude sank more than 7% to a 2-1/2 month low.

London White Sugar front month contract is trading at $358.10/tn, whereas New York Sugar front month contract is trading at 12.11/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.492 whereas USD is trading with BRL at 5.3260, Crude futures traded at Rs.2746, Crude WTI traded at $37.30 a barrel. Indian Indices ended in the red. Sensex closed 171.43 points lower at 38,193.92 whereas Nifty ended 39.35 points lower at 11,278.

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