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.

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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