Daily Sugar Market Update By Vizzie – 13/08/2020

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ChiniMandi, Mumbai: Thursday 13th August 2020
Domestic Market: The market witnessed moderate demand nationwide. According to experts, fresh buying will be seen in the coming days with easing of lockdown in various parts of the country and the festive demand that should take better pace too.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3180/Qntl whereas M/30 ₹3240 to 3280.
South Karnataka: S/30 Sugar rates are ₹3370 to 3425 whereas, M/30 rates are ₹3475
Uttar Pradesh: The rates for M/30 are ₹3345 to 3375/Qntl.
Gujarat: The rates for New S/30 are ₹3251 to 3255 whereas M/30 are at ₹3275 to 3280/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3375 to 3460 whereas, M/30 rates are ₹3425 to 3500
(All the above rates are excluding GST)

International Market: According to reports, on Wednesday sugar prices followed higher crude oil prices which rose more than +2%. White sugar of the season 2019/20 icumsa 100 ready delivery is trading at ₹24600 to ₹24800 on ex factory basis. The FOB indication For white sugar icumsa 100 Season 2019/20 is $371 to $373.

London White Sugar front month contract is trading at $378.10/tn, whereas New York Sugar front month contract is trading at 12.91/lb at the time of writing this update.
Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.826 whereas USD is trading with BRL at 5.4362, Crude futures traded at Rs.3192, Crude WTI traded at $42.65. Indian Indices ended flat amid volatility. Sensex closed 59.14 points lower at 38,301.49 whereas Nifty ended 59.14 points lower at 11,300.45

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