Daily Sugar Market Update By Vizzie – 12/09/2020

ChiniMandi, Mumbai: Saturday,12th September 2020

Domestic Market: The market continued to remain stable nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3170/Qntl whereas M/30 ₹3240 to 3260

South Karnataka: S/30 Sugar rates are ₹3300 to 3400 whereas, M/30 rates are ₹3325 to 3450.

Uttar Pradesh: The rates for M/30 are ₹3360 to 3400/Qntl.

Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3390 to 3450 whereas, M/30 rates are ₹3450 to 3500.

(All the above rates are excluding GST)

International Market: According to reports, on Friday sugar prices settled higher. New York sugar recovered from a 1-1/2 month low and closed slightly higher after a weak dollar sparked pre-weekend short-covering in sugar futures. London sugar also moved higher on weakness in the British pound as GBP/USD dropped to a 7-week low. Weakness in GBP/USD boosts sugar that is priced in sterling.

London White Sugar front month contract closed at $357.20/tn, up +2.90 whereas New York Sugar front month contract closed at 11.92/lb at the up +0.01.

Currency, Commodity & Indian Indices:
The rupee settled lower at 73.53 against the US dollar today amid mixed cues. On Friday, Indian indices ended flat on owing to an agreement between India and China to de-escalate border tensions and lack of fresh buying triggers and mixed global cues.

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