Daily Sugar Market Update By Vizzie – 13/08/2021

ChiniMandi, Mumbai: Friday 13th August 2021

Domestic Market:
Domestic Market Scenario:

The market witnessed good demand nationwide.
State wise Prices as on 13th August 2021:

◾ Maharashtra: S/30 Sugar rates from millers are ₹3175 to ₹3195/Qntl. whereas M/30 is at ₹3250 to 3300/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3200 to 3325/Qntl. whereas M/30 is at ₹3250 to 3300/Qntl.
◾ Uttar Pradesh: The rate for M/30 is ₹3440 to 3475/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3201 to 3251/Qntl. whereas M/30 rates are at ₹3331 to 3361/Qntl.
◾ Tamil Nadu: S/30 Sugar rates are ₹3360 to 3400/Qntl. whereas M/30 rates are at ₹3425 to 3450/Qntl.

(All the above rates are excluding GST)

International Market:

Yesterday’s Closing:
On Thursday sugar prices closed higher on Brazilian crop concerns. London White Sugar closed at $476.10/ton up $4.90 whereas New York Sugar closed at 19.54 cents per pound, up 0.07 points.

Market Today:
The London White Sugar front month contract is trading at $4782/tn whereas the New York Sugar front month contract is trading at 19.70/lb.

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹31000 to ₹31500 on ex factory basis – ready delivery for season 2020-21. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹30500 to ₹30800 factory basis for forward contract with delivery in Nov/Dec 2021 for season 2021-22.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.272 whereas USD was trading with BRL at 5.2347 Crude futures traded at Rs.5121 Crude WTI traded at $68.89 a barrel. Sensex closed 593.31 points higher at 55,437.29 whereas Nifty ended 164.70 points higher at 16,529.10.

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