Daily Sugar Market Update By Vizzie – 10/11/2020

ChiniMandi, Mumbai: Tuesday 10th November 2020
Domestic Market:  The market witnessed scanty demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3125 to ₹3150/Qntl whereas M/30 ₹3240 to 3270.
South Karnataka: S/30 Sugar rates are ₹3200 to 3235 whereas, M/30 rates are ₹3235 to 3285.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3285/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3275 to 3350 whereas, M/30 rates are 3325 to 3400.
(All the above rates are excluding GST)
International Market: According to reports on Monday sugar prices settled mixed. The building sugar production in India weighed on sugar prices however a surge in crude oil prices was bullish for sugar prices.
London White Sugar front month contract is trading at $401.70/tn, whereas New York Sugar front month contract is trading at 14.89/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.256 whereas USD was trading with BRL at 5.3833 Crude futures traded at Rs.3007, Crude WTI traded at $40.48 a barrel. Indian Indices ended in the green. Sensex closed 680.22 points higher at 43,277.65 whereas Nifty ended 170.05 points higher at 12,631.10

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