Daily Sugar Market Update By ‘Vizzie’ – 12/08/2019

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ChiniMandi, Mumbai – Monday 12th August 2019

Indian: The market has a mixed trend nationwide. In Maharashtra, loading had been at a halt due to flood situations and NH4 being closed. Mills are opening their rates at Rs.3110 to Rs.3160/Qntl, whereas in Resell, prices are Rs.3100 to 3150. In Uttar Pradesh, Mill sales are taking place at Rs.3340 to 3380. In resale, the rates are Rs.3320 to 3360. In Gujarat, S/30 is trading at Rs.3210 to 3300. In Tamil Nadu, Mill trades are taking place at Rs.3300 to Rs.3325 excluding GST.

International: International: The market was stable. London White Sugar is trading at $318.20 whereas US Sugar is trading at $11.85. The FOB indication for raw sugar was at $325-$330 and Indian White Sugar at $340-$345. The demand of Raw Sugar range was ₹20200-20500/mt and White Sugar ₹21500-₹21800/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 71.310 meanwhile USD traded with BRL at 4.0070, Crude Futures traded at ₹3904, Crude WTI is traded at $54.67. Indian Indices were not trading as BSE & NSE was shut down on account of Bakri Id.

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