Daily Sugar Market Update By Vizzie – 12/07/2021

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ChiniMandi, Mumbai: Monday 12th July 2021
Domestic Market:

Sugar Exports Update :
Against the target of 60 LMT of sugar, 56 LMT has been physically dispatched from sugar mills for export and 51 LMT of sugar has been exported from the country.

Market Scenario:
The market witnessed moderate demand.

State wise Prices as on July 12, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170.
In the resale market S/30 is trading at ₹3020 to ₹3050 whereas M/30 is trading at ₹3070 to ₹3150
– Karnataka : S/30 Sugar rates from millers are ₹3140 to 3175 and M/30 is at ₹3170
– Uttar Pradesh: The rates for M/30 are ₹3225 to 3230
– Gujarat: S/30 Sugar rates are ₹3101 to 3131 whereas M/30 rates are at ₹3141 to 3181
– Tamil Nadu: S/30 Sugar rates are ₹3175 to 3250 whereas M/30 rates are at ₹3250 to 3275.
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:

On Friday sugar prices closed lower on crop concerns in Brazil. London white sugar closed at $426.10/ton down $7.10 whereas New York Sugar closed at 17.28 cents per pound, down 0.17 points.

Market Today :
London White Sugar front month contract is trading at $429.90/tn whereas New York Sugar front month contract is trading at 17.12/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28600 to ₹28800 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.583 whereas USD was trading with BRL at 5.2614 Crude futures traded at Rs.5497 Crude WTI traded at $73.70 a barrel. Sensex closed 13.50 points lower at 52372.69 whereas Nifty ended 2.80 points higher at 15,692.60.

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