Daily Sugar Market Update By Vizzie – 14/01/2020

ChiniMandi, Mumbai: Tuesday 14th January 2020

Domestic: The market witnessed a good demand with continuous piling of sugar stocks which has begun owing to sharp fall of sugar production in the new sugar season, the market witnessed quite a good demand and a rise in export prices.
Maharashtra: S/30 Sugar trades are taking place at Rs. 3160 to Rs.3180/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3240 to Rs.3270 whereas M/30 trades are taking place at Rs.3290 to Rs.3320.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3305 to Rs.3405.
Gujarat: S/30 Sugar is trading at Rs.3260 to Rs.3270 and M/30 at Rs.3340 to Rs.3360.
Kolkata: The trades for S/30 are taking place at Rs.3495 to Rs.3550 whereas M/30 trades are taking place at Rs.3620 to Rs.3650
Tamil Nadu: S/30 Sugar is trading at Rs.3325 to Rs.3375 whereas M/30 is trading at Rs.3375
*All the domestic rates except Kolkata are excluding GST.

International Market: Good demand was witnessed. According to reports, raw sugar is traded at Rs.21900 to Rs.22100 from Kolhapur region due to freight advantages for Jaigarh port. White sugar of season 2018/19 icumsa 150 ready delivery is traded at Rs.22700 to Rs. 23000 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.23000 to Rs.23200 ex. factory basis. From Maharashtra and from Karnataka demand is at Rs. 22500 to Rs.22700 ex factory basis.
The FOB indication for raw sugar is at $352 to $354. For white sugar icumsa 150 season 2018/19 the FOB indication stands at $359 to 362. For white sugar icumsa 100 Season 2019/20 the FOB indication is $364 to 366. London White Sugar front month contract is trading at $395.80/tn whereas US Sugar front month contract is trading at 14.36/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 70.853 meanwhile USD traded with BRL at 4.1505, Crude Futures traded at Rs.4143, Crude WTI traded at $58.47. Indian Indices ended in the green. Sensex ended 92.94 points higher at 41,952.63 and Nifty50 settled 32.75 points higher at 12,362.30.

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