Daily Sugar Market Update by ‘Vizzie’ – 11/10/2019

ChiniMandi, Mumbai – Friday 11th October 2019

Domestic: The market witnessed low demand throughout the week.
Maharashtra: S/30 Sugar trades are taking place at Rs.3110 to Rs.3180/Qntl whereas M/30 trades took place at Rs.3250 to Rs.3360.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3410 to 3560.
Gujarat: S/30 Sugar is trading at Rs.3200 to Rs.3250 and M/30 Rs.3300 to 3350
Kolkata: The trades for M/30 are taking place at Rs.3810 to 3840.
Tamil Nadu: S/30 Sugar is trading at Rs.3340 to Rs.3460 whereas M/30 is trading at Rs.3410 to 3430.
*All the domestic rates except Kolkata are excluding GST

International Market: There was good demand for white sugar crop 2018/19 iccumsa below 150 for ready shipments at Rs.20500 to Rs.20700 Ex. factory basis. The FOB indication for Indian White Sugar is at $330-332. London White Sugar front month contract is trading at $341.30/tn whereas US Sugar front month contract is trading at 12.46 cnts/lb at the time of writing this update.

Currency,Commodity & Indian Indices: The rupee traded against the US dollar at 70.994 meanwhile USD traded with BRL at 4.1089, Crude Futures traded at Rs.3868, Crude WTI traded at $54.37. Domestic stock markets rose on Friday amid gains in global peers. Sensex ended 246.68 points higher at 38,127 whereas Nifty closed 70.50 points higher at 11,305.05.

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