Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Thursday 9th May 2019

Domestic: The market witnessed moderate demand nationwide. In Maharashtra, Mills are opening their sugar rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, the rates are Rs.3060 to 3090. In Uttar Pradesh, Mill sales are taking place at Rs.3210 to 3260. In resale, the market rates are Rs.3200 to 3240. In Gujarat, S/30 is trading at Rs.3140 to 3150. In Tamil Nadu, Mill trades are taking place at Rs.3310 to Rs.3360 excluding GST.

International: The sugar market is flat. London White Sugar is trading at $326.30 whereas US Sugar is trading at $11.89
The FOB indication for raw sugar was at $314-$316 and Indian White Sugar at $322-$325.

The demand of Raw Sugar range was ₹19800-20000/mt and White Sugar ₹20300-₹20500/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 70.11 meanwhile USD traded with BRL at 3.927, Crude Futures traded at ₹4332, Crude WTI is trading at $61.85.

Indices: Benchmark indices ended lower with heavyweights like Reliance Industries (RIL) and Coal India leading the list of losers even as the United States and China prepare to start trade deal negotiations later in the day. BSE Sensex slipped 230 points, to end the day at 37,559. The broader Nifty50 index dipped 58 points, or 0.51 per cent, to finish at 11,302.



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