Daily Sugar Market Update By Vizzie – 12/08/2020

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ChiniMandi, Mumbai: Wednesday 12th August 2020
Domestic Market:The market witnessed moderate demand nationwide. According to experts, fresh buying will be seen in the coming days with easing of lockdown in various parts of the country and the festive demand that should take better pace too.
In Maharashtra: S/30 Sugar rates from millers are ₹3170 to ₹3190/Qntl whereas M/30 ₹3270 to 3290
South Karnataka: S/30 Sugar rates are ₹3370 to 3425 whereas, M/30 rates are ₹3475
Uttar Pradesh: The rates for M/30 are ₹3325 to 3340/Qntl.
Gujarat: The rates for New S/30 are ₹3251 to 3255 whereas M/30 are at ₹3275 to 3280/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3375 to 3460 whereas, M/30 rates are ₹3425 to 3500
(All the above rates are excluding GST)

International Market:According to reports, on Tuesday sugar prices pushed higher on strength in the Brazilian real which +1.95% against the dollar.

White sugar of the season 2019/20 icumsa 100 ready delivery is trading at ₹24500 to ₹24800 on ex factory basis. The FOB indication For white sugar icumsa 100 Season 2019/20 is $370 to $373.

London White Sugar front month contract is trading at $374.80/tn, whereas New York Sugar front month contract is trading at 12.88/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.808 whereas USD is trading with BRL at 5.4257, Crude futures traded at Rs.3167, Crude WTI traded at $42.33. Indian Indices in the red on the back of FMCG, pharma and metals stocks. Sensex closed 37.38 points lower at 38,369.63 whereas Nifty ended 14.10 points lower at 11,308.40

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