Daily Sugar Market Update By ‘Vizzie’ – 12/04/2019

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ChiniMandi, Mumbai – Friday 12th April 2019

• Domestic: The week ended witnessing a mixed trend nationwide. In Maharashtra, stocks have been continuing to pile up. Mills are opening their rates at Rs.3100 to Rs.3110/Qntl, whereas in Resell, the rates are Rs.2990 to 3020. In Uttar Pradesh, Mill sales are taking place at Rs.3190 to 3230. In resale, the market rates are Rs.3135 to 3170. In Gujarat, S/30 is trading at Rs.3110 to 3120. In Tamil Nadu, Mill trades are taking place at Rs.3225 to Rs.3300 excluding GST.

• International: The week came to an end without any major movement. London White Sugar is trading at $326.00 whereas US Sugar is trading at $12.70.

The FOB indication for raw sugar was at $308-$310 and Indian White Sugar at $320-$322.

The demand of Raw Sugar range was ₹19300-19500/mt and White Sugar ₹19700-₹19900/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.19 meanwhile USD traded with BRL at 3.858, Crude Futures traded at ₹4460, WTI $64.42.

•Indices: Equity benchmark BSE Sensex ended higher led by gains in FMCG, auto and banking stocks ahead of the release of key macroeconomic and earnings data. The 30-share index finally settled 160.10 points higher at 38,767.11. The broader NSE Nifty rose 46.75 points to 11,643.45.

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