Daily Sugar Market Update By Vizzie – 11/08/2020

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ChiniMandi, Mumbai: Tuesday 11th August 2020
Domestic Market: The market witnessed moderate demand nationwide. According to experts, fresh buying will be seen in the coming days with easing of lockdown in various parts of the country and the festive demand that should take better pace too.
In Maharashtra: S/30 Sugar rates from millers are ₹3160 to ₹3190/Qntl whereas M/30 ₹3260 to 3290
South Karnataka: S/30 Sugar rates are ₹3370 to 3425 whereas, M/30 rates are ₹3475
Uttar Pradesh: The rates for M/30 are ₹3325 to 3340/Qntl.
Gujarat: The rates for New S/30 are ₹3251 to 3255 whereas M/30 are at ₹3275 to 3280/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3370 to 3475 whereas, M/30 rates are ₹3425 to 3500
(All the above rates are excluding GST)

International Market:According to reports on Monday sugar prices moved lower as heavy rain in Thailand eased drought concerns and prompted long liquidation in sugar futures. Weakness in the Brazilian real against the dollar also weighed on sugar prices.

White sugar of the season 2019/20 icumsa 100 ready delivery is trading at ₹24500 to ₹24800 on ex factory basis. The FOB indication For white sugar icumsa 100 Season 2019/20 is $370 to $373.

London White Sugar front month contract is trading at $371.30tn, whereas New York Sugar front month contract is trading at 12.54/lb at the time of writing this update

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.677 whereas USD is trading with BRL at 5.4818, Crude futures traded at Rs.3183, Crude WTI traded at $42.58. Indian Indices in the green on the led by metals and financial stocks. Sensex closed 224.93 points higher at 38,407.01 whereas Nifty ended 52.35 points higher at 11,322.50

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