Daily Sugar Market Update By ‘Vizzie’ – 14-06-2019

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ChiniMandi, Mumbai –Friday 14th June 2019

Indian: With the monsoon setting, the market continued to witness poor demand nationwide. Sugar mills in Maharashtra, are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell price are Rs.3040 to 3070. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3320. In resale, the sugar market rates are Rs.3250 to 3300. In Gujarat, S/30 is trading at Rs.3140 to 3200. In Tamil Nadu, Mill trades are taking place at Rs.3235 to Rs.3350 excluding GST.

International: The Sugar market was stable. London White Sugar is trading at $336.10 whereas US Sugar price is trading at $12.77.
The FOB indication for raw sugar price was at $332-$335 and Indian White Sugar at $348-$350.

The demand of Raw Sugar range was ₹20800-21100/mt and White Sugar ₹21800-₹22000/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.748 meanwhile USD traded with BRL at 3.8526, Crude Futures traded at ₹3640, Crude WTI is trading at $52.16.

Indices: Sharp fall in late trading pulled the indices to the low of the day. At close, the Sensex was down 289.29 points at 39,452.07, while Nifty was down 90.70 points at 11,823.30.

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