Daily Sugar Market Update By Vizzie – 09/10/2020

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ChiniMandi, Mumbai: Friday 9th October 2020
Domestic Market: The market did not witness any major movement.
In Maharashtra: S/30 Sugar rates from millers are ₹3150/Qntl whereas M/30 ₹3240 to 3260
South Karnataka: S/30 Sugar rates are ₹3250 to 3300 whereas, M/30 rates are ₹3350.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.
Gujarat: The rates for M/30 are at ₹3241 to 3261/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3325 to 3400 whereas, M/30 rates are 3400 to 3450.
(All the above rates are excluding GST)

International Market:
According to reports on Thursday, NY sugar posted a new 7-month nearest-futures high and London sugar climbed to a fresh 3-1/2 month high. Market analysts predict a production deficit for the ongoing season & bravely predict global consumption will recover back to their pre-Covid levels.

London White Sugar front month contract is trading at $383.90/tn, whereas New York Sugar front month contract is trading at 14.11/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.066 whereas USD was trading with BRL at 5.5753 Crude futures traded at Rs.2992, Crude WTI traded at $40.92 a barrel. Indian Indices ended in the green. Sensex closed 326.82 points higher at 40,509.49 whereas Nifty ended 79.60 points higher at 11,914.20.

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