Daily Sugar Market Update by ‘Vizzie’ 12/11/2019


Domestic: The market witnessed scanty demand nationwide.
Maharashtra: S/30 Sugar trades are taking place at Rs. 3050 to Rs.3100/Qntl whereas M/30 trades took place at Rs. 3190 to Rs.3250.
South Karnataka:S/30 trades are taking place from 3225 to 3250 & M-30, 3250 to 3300.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to 3400.
Gujarat: S/30 Sugar is trading at Rs.3140 to Rs.3160 and M/30 Rs.3230 to 3290.
Kolkata: The trades for S/30 are taking place at Rs.3550 to 3560.
Tamil Nadu: S/30 Sugar is trading at Rs.3250 to Rs.3375 whereas M/30 is trading at Rs.3300 to 3400
*All the domestic rates except Kolkata are excluding GST.

International Market: There is good demand for ready delivery white sugar of season 2018/19. The prices are at Rs.20500 to Rs.20700 Ex. factory basis. The FOB indication for Indian White Sugar is at $330-332. London White Sugar front month contract is trading at $330.70/tn whereas US Sugar front month contract is trading at 12.57/lb at the time of writing this update. US Sugar prices early this week opened higher on robust ethanol demand in Brazil after Unica reported Brazil Center-South sugar mills sold 2.1 billion liters of hydrous ethanol in Oct, up 5.0% y/y and a record for a single month.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 71.608 meanwhile USD traded with BRL at 4.1529, Crude WTI traded at $57.14. The trade for Indian indices, commodity futures, wholesale commodity markets including metal and bullion and activity in the forex markets didn’t take place owing to Guru Nanak Jayanti.

To Listen to this News click on the play button.


Please enter your comment!
Please enter your name here