Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Thursday, 7th February, 2019

• Domestic: With strong hopes of hike in MSP there was scanty deman

d in the market nationwide. In Maharashtra, S/30 is trading at ₹2905 to ₹2930. In Uttar Pradesh Market M/30 sugar is trading at ₹3100 to ₹3150. In Gujarat, S/30 is trading at ₹2930-₹2980, whereas in Chennai S/30 is trading at ₹3300-3340.

• International: The market did not witness any major movement, London White Sugar is trading at $340.90 whereas US Sugar is trading at $12.84

The FOB indication for raw sugar was at $300-$303 and Indian White Sugar at $312-$315

The demand of Raw Sugar range was ₹18600-18800/mt and White Sugar ₹19300-₹19500/MT on Ex.factory basis.

• Currency & Commodity: The rupee appreciated against the US dollar and was trading at 71.60, meanwhile USD traded with BRL at 3.721, Crude Futures traded at ₹3839, WTI $53.61

• Looking at indices, Benchmark equity indices gave up gains to end almost flat on as investors booked profits at higher levels, after the the Reserve Bank surprisingly reduced the repo rate by 0.25 per cent.
BSE Sensex ended 4.14 points lower at 36,971 while the broader Nifty settled 6.95 points higher at 11,069.

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SOURCEChiniMandi

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