Daily Sugar Market Update By Vizzie -13/03/2020

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ChiniMandi, Mumbai: Friday 13th March 2020

Domestic Market: The market witnessed scanty demand.
Maharashtra: S/30 Sugar trades are taking place at Rs.3070 to Rs.3140/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3190 to Rs. 3215 whereas M/30 is taking place at Rs.3220/Qntl.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3190 to Rs.3240/Qntl.
Gujarat: S/30 is trading at Rs.3180 to 3190 whereas M/30 trades are taking place at 3270 to 3290/Qntl.
Kolkata: The trades for S/30 are taking place at Rs.3450 to Rs.3470 whereas M/30 trades are taking place at Rs.3470 to Rs.3480/Qntl.
Tamil Nadu: S/30 Sugar is trading at Rs.3225 to Rs.3300 whereas M/30 trades are taking place at Rs.3275 to Rs.3325/Qntl.
*All the domestic rates except Kolkata are excluding GST

International Market: The market did not witness any major movement.
White sugar of the season 2018/19 icumsa 150 ready delivery is trading at Rs.23000 to Rs. 23200 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.23200 to Rs.23300 ex. factory basis. The FOB indication for white sugar icumsa 150 season 2018/19 is $350 to $352. For white sugar icumsa 100 Season 2019/20 the FOB indication is $358 to $360.

London White Sugar front month contract is trading at $357.70/tn whereas US Sugar front month contract is trading at 11.79/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.870 whereas USD traded with BRL at 4.7916, Crude futures traded at Rs.2473, Crude WTI traded at $33.28. Indian Indices ended in the green after a collapse in the market owing to the growing fears of coronavirus. Sensex closed 1325.34 points higher at 34,103.48 whereas Nifty ended 365.05 points higher at 9955.20.

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