Daily Sugar Market Update By Vizzie – 11/09/2020

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ChiniMandi, Mumbai: Friday, 11th September 2020
Domestic Market: The market continued to remain stable nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3170/Qntl whereas M/30 ₹3240 to 3260.
South Karnataka: S/30 Sugar rates are ₹3300 to 3400 whereas, M/30 rates are ₹3325 to 3450.
Uttar Pradesh: The rates for M/30 are ₹3360 to 3400/Qntl.
Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3390 to 3450 whereas, M/30 rates are ₹3450 to 3500.
(All the above rates are excluding GST)

International Market: According to reports, on Thursday sugar prices closed lower. The outlook for strong Brazilian sugar production is weighing on sugar prices. Today the market opened a couple of points firmer. London White Sugar front month contract is trading at $354.30/tn, whereas New York Sugar front month contract is trading at 11.90/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.583 whereas USD is trading with BRL at 5.2820, Crude futures traded at Rs.2742, Crude WTI traded at $37.23 a barrel. Indian Indices ended in the green. Sensex closed14.23 points higher at 38,854.55 whereas Nifty ended 15.20 points higher at 11,464.45.

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