Daily Sugar Market Update By Vizzie – 13/11/2020

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ChiniMandi, Mumbai: Friday 13th November 2020
Domestic Market: The market witnessed scanty demand nationwide, prices have been firm.
In Maharashtra: S/30 Sugar rates from millers are ₹3125 to ₹3150/Qntl whereas M/30 ₹3240 to 3270
South Karnataka: S/30 Sugar rates are ₹3200 to 3235 whereas, M/30 rates are ₹3225 to 3285.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3285/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3275 to 3350 whereas, M/30 rates are 3325 to 3400.
(All the above rates are excluding GST)
International Market:
According to reports on Thursday sugar prices rallied sharply with London sugar at a new high. Sugar prices have trended higher over concern that Brazil’s dry conditions may curb sugarcane yields and reduce Brazil’s sugar production.

London White Sugar front month contract is trading at $408/tn, whereas New York Sugar front month contract is trading at 14.86/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.628 whereas USD was trading with BRL at 5.04551 Crude futures traded at Rs.3037, Crude WTI traded at $40.69 a barrel. Indian Indices ended in the green. Sensex closed 85.81 points higher at 43,443 whereas Nifty ended 29.15 points higher at 12,719.95.

 

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