Daily Sugar Market Update By Vizzie – 13/01/2020

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ChiniMandi, Mumbai: Monday 13th January 2020

Domestic: The market witnessed a good demand with continuous piling of sugar stocks which has begun owing to sharp fall of sugar production in the new sugar season.

Maharashtra: S/30 Sugar trades are taking place at Rs. 3150 to Rs.3170/Qntl.

South Karnataka: S/30 trades are taking place at Rs.3240 to Rs.3280 whereas M/30 trades are taking place at Rs.3290 to Rs.3320.

Uttar Pradesh: The market trades for M/30 are taking place at Rs.3295 to Rs.3450.

Gujarat: S/30 Sugar is trading at Rs.3260 to Rs.3270 and M/30 at Rs.3340 to Rs.3360.

Kolkata: The trades for S/30 are taking place at Rs.3550 to Rs.3570 whereas M/30 trades are taking place at Rs.3620 to Rs.3650

Tamil Nadu: S/30 Sugar is trading at Rs.3325 to Rs.3375 whereas M/30 is trading at Rs.3375

*All the domestic rates except Kolkata are excluding GST.

International Market: Good demand was witnessed. According to reports, raw sugar is traded at Rs.21500 to Rs.21600 from Kolhapur region due to freight advantages for Jaigarh port. White sugar of season 2018/19 icumsa 150 ready delivery is traded at Rs.22500 to Rs. 22700 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.22800 to Rs.23000 ex. factory basis. From Maharashtra and from Karnataka demand is at Rs. 22300 to Rs.22400 ex factory basis.

The FOB indication for raw sugar is at $348 to $350. For white sugar icumsa 150 season 2018/19 the FOB indication stands at $355 to 357. For white sugar icumsa 100 Season 2019/20 the FOB indication is $360 to 362

London White Sugar front month contract is trading at $381.50/tn whereas US Sugar front month contract is trading at 14.14/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 70.833 meanwhile USD traded with BRL at 4.1121, Crude Futures traded at Rs.4179, Crude WTI traded at $58.97. Indian Indices hit fresh lifetime highs supported by positive global and domestic cues. Sensex ended 259.97 points higher at 41,859.69 and Nifty50 settled 72.75 points higher at 12,329.55.

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