Daily Sugar Market Update By Vizzie – 12/04/2021

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ChiniMandi, Mumbai: Monday 12th April 2021
Domestic Market:
The market witnessed good demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3120 to ₹3150/Qntl. whereas M/30 ₹3230 to 3175. In the resale market S/30 is trading at ₹3045 to ₹3100 whereas M/30 is trading at ₹3075 to ₹3150.
South Karnataka: S/30 rates are ₹3250 whereas M/30 is ₹3300
Uttar Pradesh: The rates for M/30 are ₹3290 to 3320
Gujarat: The rates new S/30 at ₹3181 to 3191 whereas new M/30 ₹3231 to 3241
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3325 whereas M/30 rates are at ₹3325 to 3350
(All the above rates are excluding GST)

International Market:
On Friday sugar prices closed higher on strength in Brazil ethanol exports. May New York world (SBK21) closed up +0.28 at 15.46/lb, and May London white sugar #5 (SWK21) closed down -2.20 at $422.50 (-0.52%). At the time of writing this update London White Sugar front month contract is trading at $420.40/tn, whereas New York Sugar front month contract is trading at 15.57/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27500 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 75.019 whereas USD was trading with BRL at 5.6635 Crude futures traded at Rs.4502, Crude WTI traded at $60.03 a barrel. Sensex closed 1707 points lower at 47,883.38 whereas Nifty ended 524.05 points lower at 14.310.80.

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