Daily Sugar Market Update By Vizzie – 11/01/2020

ChiniMandi, Mumbai: Saturday 11th January 2020

Domestic: The market witnessed a good demand nationwide throughout the week owing to the festival of Makar Sankrant and piling of sugar stocks which has begun owing to sharp fall of sugar production in the new sugar season.
Maharashtra: S/30 sugar trades are taking place at Rs. 3150 to Rs.3170/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3270 to Rs.3300 whereas M/30 trades are taking place at Rs.3290 to Rs.3350.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3295 to Rs.3450.
Gujarat: S/30 Sugar is trading at Rs.3260 to Rs.3270 and M/30 at Rs.3340 to Rs.3360.
Kolkata: The trades for S/30 are taking place at Rs.3550 to Rs.3570 whereas M/30 trades are taking place at Rs.3620 to Rs.3650
Tamil Nadu: S/30 Sugar is trading at Rs.3325 to Rs.3375 whereas M/30 is trading at Rs.3375 to Rs.3400.
*All the domestic rates except Kolkata are excluding GST.

In the international market Sugar Settled at a 14-Month High on Expectations for a Global Sugar Deficit. Mar NY world sugar #11 on Friday closed at 14.06 up +0.36 and Mar London white sugar closed at 376.80 up +9.40.

According to the reports by Reuters, Indian markets clocked its first weekly gains since Dec. 20. The domestic currency posted its best week in 10 months. The rupee appreciated 1.2 percent against the dollar at 71. And the Indian economy is expected to grow at its slowest pace since 2008-09.

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