Daily Sugar Market Update By Vizzie – 10/06/2019

Indian: The sugar market was stable with sugar prices in the market firm nationwide. Sugar mills in Maharashtra, are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell price are Rs.3050 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3260 to 3320. In resale, the sugar market rates are Rs.3250 to 3300. In Gujarat, S/30 is trading at Rs.3140 to 3200. In Tamil Nadu, Mill trades are taking place at Rs.3250 to Rs.3350 excluding GST.

International: Sugar market was stable. White Sugar price in London is trading at $335.80 whereas US Sugar price is trading at $12.43.

The FOB indication for raw sugar price was at $332-$335 and Indian White Sugar at $348-$350.

The demand of Raw Sugar range was ₹20800-21100/mt and White Sugar ₹21800-₹22000/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.60 meanwhile USD traded with BRL at 3.8959, Crude Futures traded at ₹3784, Crude WTI is trading at $54.26.

Indices: Indian equity benchmarks ended higher for the second consecutive trading session, led by gains in Infosys Ltd. and Tata Consultancy Services Ltd. The Sensex closed 169 points or 0.43 percent higher to close at 39,785 and the NSE Nifty 50 Index rose 0.44 per cent or 52 points to close at 11,923.

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