Daily Sugar Market Update By ‘Vizzie’ – 11/07/2019

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ChiniMandi, Mumbai – Thursday 11th July 2019

Indian: There was no major movement. In Maharashtra ,mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3030 to 3075. In Uttar Pradesh, Mill sales are taking place at Rs.3180 to 3310. In resale, the rates are Rs.3185 to 3310. In Gujarat, S/30 is trading at Rs.3100 to 3140. In Tamil Nadu, Mill trades are taking place at Rs.3200 to Rs.3250 excluding GST.

International: The market continued to be flat. London White Sugar is trading at $320.60 whereas US Sugar is trading at $12.48.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.
The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.438 meanwhile USD traded with BRL at 3.7539, Crude Futures traded at ₹4148, Crude WTI is traded at $60.64. Indices ended higher where the BSE Sensex ended 266 points higher to settle at 38,823 at close. The NSE Nifty50 settled 84 points higher at 11,583.

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