Daily Sugar Market Update By Vizzie – 09/11/2020

ChiniMandi, Mumbai: Monday 9th November 2020
Domestic Market: The week opened with some fresh buying witnessed owing to the festive atmosphere.
In Maharashtra: S/30 Sugar rates from millers are ₹3125 to ₹3150/Qntl whereas M/30 ₹3240 to 3270
South Karnataka: S/30 Sugar rates are ₹3200 to 3235 whereas, M/30 rates are ₹3235 to 3285.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3285/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3275 to 3350 whereas, M/30 rates are 3325 to 3400.
(All the above rates are excluding GST)
International Market:
According to reports on Friday sugar prices pushed higher strength in the Brazilian real against the dollar. Today the market opened slightly positive with crude prices being firm while the USD did not witness change. New York sugar closed +0.43 at 14.391/lb whereas London sugar closed +10.40 up at $400.30

Today London White Sugar front month contract is trading at $394.2/tn, whereas New York Sugar front month contract is trading at 14.67/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.131 whereas USD was trading with BRL at 5.3650 Crude futures traded at Rs.2819, Crude WTI traded at $38.05 a barrel. Indian Indices ended in the green. Sensex closed 716.83 points higher at 42615.14 whereas Nifty ended 197.50 points higher at 12,461.05.

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