Daily Sugar Market Update By Vizzie – 12/10/2020

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ChiniMandi, Mumbai: Monday 12th October 2020

Domestic Market: The market held weak sentiments nationwide, not much demand was witnessed.
In Maharashtra: S/30 Sugar rates from millers are ₹3150/Qntl whereas M/30 ₹3240 to 3260

South Karnataka: S/30 Sugar rates are ₹3240 to 3300 whereas, M/30 rates are ₹3265 to ₹3350.

Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.

Gujarat: The rates for M/30 are at ₹3241 to 3261/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3325 to 3400 whereas, M/30 rates are 3400 to 3450.

(All the above rates are excluding GST)

International Market: According to reports on Friday, sugar prices settled mixed with New York sugar posted a high whereas London sugar fell owing to the strength in British Pound. Sugar prices have rallied sharply throughout the month on concern about the future of Brazilian sugar output. New York sugar closed +0.06 at 14.23/lb whereas London sugar closed -0.90 down at $384.90.

London White Sugar front month contract is trading at $389.00/tn, whereas New York Sugar front month contract is trading at 14.42/lb at the time of writing this update.

Currency, Commodity & Indian Indices:

The rupee traded against the US dollar at 73.307 whereas USD was trading with BRL at 5.322 Crude futures traded at Rs.2937, Crude WTI traded at $40.05 a barrel. Indian Indices ended in the green. Sensex closed 84.31 points higher at 40,593.80 whereas Nifty ended 16.75 points higher at 11,930.95.

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