Daily Sugar Market Update By Vizzie – 13-06-2019

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ChiniMandi, Mumbai –Thursday 13 June 2019

Indian: The sugar market witnessed continued to witness poor demand nationwide owing to the monsoons. Sugar mills in Maharashtra, are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell price are Rs.3050 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3260 to 3320. In resale, the sugar market rates are Rs.3250 to 3300. In Gujarat, S/30 is trading at Rs.3140 to 3200. In Tamil Nadu, Mill trades are taking place at Rs.3235 to Rs.3350 excluding GST.

International: The Sugar market was stable. London White Sugar is trading at $335.70 whereas US Sugar is trading at $12.66.

The FOB indication for raw sugar was at $332-$335 and Indian White Sugar at $348-$350.

The demand of Raw Sugar range was ₹20800-21100/mt and White Sugar ₹21800-₹22000/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.533 meanwhile USD traded with BRL at 3.8500, Crude Futures traded at ₹3705, Crude WTI is trading at $53.24.

Indices: Markets ended flat with gains being capped by banking and auto stocks. Weak global cues and rising retail inflation, too, contributed to a lackluster trade. Sensex closed 15 points lower at 39,741. The broader Nifty settled just above the psychological level of 11,900 at 11,914 mark, up a modest 8 points.

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