Daily Sugar Market Update By Vizzie – 14/04/2021

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ChiniMandi, Mumbai: Wednesday 14th April 2021
Domestic Market:
The market witnessed good demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3120 to ₹3150/Qntl. whereas M/30 ₹3230 to 3175. In the resale market S/30 is trading at ₹3045 to ₹3100 whereas M/30 is trading at ₹3075 to ₹3150.
South Karnataka: S/30 rates are ₹3250 whereas M/30 is ₹3300
Uttar Pradesh: The rates for M/30 are ₹3290 to 3320
Gujarat: The rates new S/30 at ₹3181 to 3191 whereas new M/30 ₹3231 to 3241
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3325 whereas M/30 rates are at ₹3325 to 3350
(All the above rates are excluding GST)

International Market:
On Tuesday, sugar prices settled moderately higher. According to farmer group CGB, severe frost in France has damaged 10% of France’s sugar beet crop. Concern about smaller sugar supplies from France, the largest sugar producer in the EU, is bullish for prices.

Sugar prices have been under pressure recently on concern the re-surge of the pandemic and restrictions that lead to crimped fuel demand and encourage Brazil’s sugar mills to divert more cane crushing toward sugar production rather than ethanol production hence boosting sugar supplies

At the time of writing this update London White Sugar front month contract is trading at $438.60/tn, whereas New York Sugar front month contract is trading at 15.87/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27500 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.

Currency, Commodity & Indian Indices:
Indian markets remained closed today on the occasion of Ambedkar Jayanti.

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