Daily Sugar Market Update By ‘Vizzie’ – 12/07/2019

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ChiniMandi, Mumbai –Friday 12th July 2019

Indian: The week ended quiet. In Maharashtra ,mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3030 to 3075. In Uttar Pradesh, Mill sales are taking place at Rs.3180 to 3310. In resale, the rates are Rs.3185 to 3310. In Gujarat, S/30 is trading at Rs.3100 to 3140. In Tamil Nadu, Mill trades are taking place at Rs.3200 to Rs.3250 excluding GST.

International: The week ended with flatness in the market. London White Sugar is trading at $312.70 whereas US Sugar is trading at $12.33.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.
The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.661 meanwhile USD traded with BRL at 3.7534, Crude Futures traded at ₹4136, Crude WTI is traded at $60.26. Domestic equity indices BSE Sensex and NSE Nifty closed lower ahead of key macroeconomic data to be released today amid mixed global cues. Sensex ended 86 points lower at 38,736 on Friday and Nifty50 ended at 11,552, a loss of 30 points.

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