Daily Sugar Market Update by ‘Vizzie’ – 13/09/2019

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ChiniMandi, Mumbai – Friday 13th September 2019

Domestic: After a week the market witnessed good buying nationwide. In the second session of the day, most of the sugar millers closed the sale.

Maharashtra: S/30 Sugar trades took place at Rs.3150 to Rs.3230/Qntl whereas M/30 trades took place at Rs.3290 to Rs.3375.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3375 to 3450.
Gujarat: S/30 Sugar is trading at Rs.3205 to Rs.3230 and M/30 Rs.3325 to 3370.
Kolkata: The trades for M/30 are taking place at Rs.3750 to Rs.3780.
Tamil Nadu: S/30 Sugar is trading at Rs.3325 to Rs.3525 whereas M/30 is trading at Rs.3425 to Rs.3525.
*All domestic rates are excluding GST

International Market: Delivery games continue in London exchange with Whites delivery due tonight. Raws remain steady and still range bound with more of a bearish tone. With record short levels of funds it will be interesting to watch the movement of markets hereafter. London White Sugar Dec month contract is trading at $315.7 whereas US Sugar front month contract is trading at $10.83. Marketmen expect the trade for export from India of white sugar to begin once the policy is announced.

Currency,Commodity & Indian Indices: The rupee was trading against the US dollar at 71.000 meanwhile USD traded with BRL at 4.0600, Crude Futures traded at Rs.3941, Crude WTI traded at $55.45. Domestic stock markets registered sharp gains in the concluding hours of trade today, supported by a surge in auto, banking and metal stocks. Sensex closed at 37,384.99 up 280.71 points whereas Nifty closed 93.10 points up at 11,075.90.

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