Daily sugar market update by ‘Vizzie’

Will The Govt. Approve To Implement Release Mechanism?

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ChiniMandi, Mumbai – Wednesday, 20th February 2019

Domestic: The market sensed a mixed trend nationwide. In Maharashtra, Mill sales are taking place at ₹3100 to ₹3120. In resell, S/30 is trading at ₹3030 to ₹3050. In Uttar Pradesh, prices slid down ₹15 to ₹30. Ex-mill trades are taking place from ₹3150 to ₹3200. In resell, M/30 sugar is trading at ₹3140 to ₹3200. In Gujarat, the demand is poor, S/30 is trading at ₹3130 to 3160. In Chennai, there was an improvement in demand, S/30 is trading at ₹3480 to ₹3520 inclusive GST.

• International: The demand was good however the prices floated the same as they began this week. London White Sugar is trading at $359.20 whereas US Sugar is trading at $13.37.

The FOB indication for raw sugar was at $305-$307 and Indian White Sugar at $316-$318

The demand of Raw Sugar range was ₹19000-19200/mt and White Sugar ₹19700-₹20000/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 71.12, meanwhile USD traded with BRL at 3.732, Crude Futures traded at ₹4011, WTI $56.13.

• Looking at indices, breaking its nine-day losing streak, the BSE Sensex zoomed 404 points Wednesday while the NSE Nifty reclaimed the 10,700 mark, propelled by gains in metal, IT and banking stocks amid positive global cues. The 30-share Sensex settled 403.65 points higher at 35,756. The broader NSE Nifty soared 131.10 points to 10,735.

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