Daily Sugar Market Update By Vizzie – 10/10/2020

Domestic Market: The market did not witness any major movement.
In Maharashtra: S/30 Sugar rates from millers are ₹3150/Qntl whereas M/30 ₹3240 to 3260.

South Karnataka: S/30 Sugar rates are ₹3240 to 3300 whereas, M/30 rates are ₹3265 to ₹3350.

Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.

Gujarat: The rates for M/30 are at ₹3241 to 3261/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3325 to 3400 whereas, M/30 rates are 3400 to 3450.

(All the above rates are excluding GST)

International Market: According to reports on Friday, sugar prices settled mixed with New York sugar posted a high whereas London sugar fell owing to the strength in British Pound. Sugar prices have rallied sharply throughout the month on concern about the future of Brazilian sugar output.

New York sugar closed +0.06 at 14.23/lb whereas London sugar closed -0.90 down at $384.90.

Currency, Commodity & Indian Indices: USD/INR appreciated and closed at 73.21 owing to weakness in the dollar index.

Indian indices rallied throughout the week and hit a fresh 7 month high.

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