Daily Sugar Market Update By ‘Vizzie’ – 11/04/2019

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ChiniMandi, Mumbai – Thursday 11th April 2019

• Domestic: The market has continued to witness a mixed trend nationwide for the fourth straight day of the week. In Maharashtra, stocks have been continuing to pile up. Mills are opening their rates at Rs.3100 to Rs.3110/Qntl, whereas in Resell, the rates are Rs.2990 to 3020.

In Uttar Pradesh, Mill sales are taking place at Rs.3190 to 3230. In resale, the market rates are Rs.3135 to 3170. In Gujarat, S/30 is trading at Rs.3110 to 3120. In Tamil Nadu, Mill trades are taking place at Rs.3225 to Rs.3300 excluding GST.

• International: The flatness in the market has continued for the fourth straight day. London White Sugar is trading at $325.60 whereas US Sugar is trading at $12.77.

The FOB indication for raw sugar was at $308-$310 and Indian White Sugar at $320-$322.

The demand of Raw Sugar range was ₹19300-19500/mt and White Sugar ₹19700-₹19900/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.05 meanwhile USD traded with BRL at 3.825, Crude Futures traded at ₹4420, WTI $64.06.

•Indices: Benchmark equity indices ended marginally higher after choppy trade as voting began in the first phase of the Lok Sabha elections. The 30-share BSE Sensex inched up 21.66 points to close at 38,607.01. The broader NSE Nifty settled 12.40 points higher at 11,596.70.

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