Daily Sugar Market Update By ‘Vizzie’ – 10/07/2019

ChiniMandi, Mumbai – Wednesday 11th July 2019

Indian: There was no major movement. In Maharashtra sugar mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3030 to 3075. In Uttar Pradesh, there was a good demand from Rajasthan & Madhya Pradesh, Mill sales are taking place at Rs.3170 to 3300. In resale, the rates are Rs.3175 to 3300. In Gujarat, S/30 is trading at Rs.3100 to 3140. In Tamil Nadu, Mill trades are taking place at Rs.3200 to Rs.3240 excluding GST.

International:
The sugar market continued to be flat. London White Sugar price is trading at $319.80 whereas US Sugar price is trading at $12.32.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.
The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.592 meanwhile USD traded with BRL at 3.771, Crude Futures traded at ₹4057, Crude WTI is traded at $59.22. Indices ended today’s volatile session in the negative territory spooked by fresh trade war concern between India and the United States, markets remained flat with a positive bias for the better part of the day. They, however, saw a sharp decline during the last trading hour. Sensex close today at 38557.04 down 173.78 points whereas Nifty closed at 11498.90 down 57 points.

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