Daily Sugar Market Update By ‘Vizzie’ – 13/08/2019

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ChiniMandi, Mumbai – Tuesday 13th August 2019

Indian: The sugar market was stable. In Maharashtra sugar mills are opening their rates at Rs.3110 to Rs.3160/Qntl, whereas in Resell sugar prices are Rs.3100 to 3150. In Uttar Pradesh, Mill sales are taking place at Rs.3340 to 3380. In resale, the rates are Rs.3320 to 3360. In Gujarat, S/30 is trading at Rs.3210 to 3300. In Tamil Nadu, Mill trades are taking place at Rs.3300 to Rs.3325 excluding GST.

International: The sugar market was stable. London White Sugar price is trading at $315.00 whereas US Sugar price is trading at $11.61. The FOB indication for raw sugar was at $325-$330 and Indian White Sugar at $340-$345. The demand of Raw Sugar range was ₹20200-20500/mt and White Sugar ₹21500-₹21800/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 71.479 meanwhile USD traded with BRL at 4.0015, Crude Futures traded at ₹3895, Crude WTI is traded at $54.48. Equity indices plunged on Tuesday to finish in red with the benchmark BSE Sensex crashing more than 600 points ahead of key retail or consumer price-based inflation data. Sensex close today nosedived 624 points or 1.66 per cent to close at 36,958; while the broader NSE Nifty moved 184 points or 1.65 per cent lower to settle at 10926.

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