Daily Sugar Market Update By Vizzie – 14/07/2021

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Daily Sugar Market Update By Vizzie – 14/07/2021

ChiniMandi, Mumbai: Wednesday 14th July 2021
Domestic Market:

ISMA releases preliminary estimates of Sugar Production in 2021-2022
ISMA estimates sugar production at around 310 LMT in 2021-22 after approximately diverting 34 LMT of sugar into ethanol next season.

To know more read the below link

ISMA releases preliminary estimates of Sugar Production in 2021-2022

Market Scenario:
The market witnessed moderate demand.

State wise Prices as on July 14, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170/Qntl.
In the resale market S/30 is trading at ₹3020 to ₹3050/Qntl. whereas M/30 is trading at ₹3070 to ₹3150/Qntl.
– Karnataka : S/30 Sugar rates from millers are ₹3120 to 3175/Qntl. and M/30 is at ₹3150/Qntl.
– Uttar Pradesh: The rates for M/30 are ₹3225 to 3230/Qntl.
– Gujarat: S/30 Sugar rates are ₹3101 to 3131/Qntl. whereas M/30 rates are at ₹3141 to 3181/Qntl.
– Tamil Nadu: S/30 Sugar rates are ₹3175 to 3250/Qntl. whereas M/30 rates are at ₹3250 to 3275/Qntl.
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:
On Wednesday sugar prices closed moderately higher after crude oil prices rallied. London white sugar closed at $423.90/ton down $2.20 whereas New York Sugar closed at 17.08 cents per pound, down 0.31 points.

Market Today :
London White Sugar front month contract is trading at $426.30/tn whereas New York Sugar front month contract is trading at 17.03/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28600 to ₹28800 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.466 whereas USD was trading with BRL at 5.1024 Crude futures traded at Rs.5588 Crude WTI traded at $74.466 a barrel. Sensex closed 134.32 points higher at 52904.05 whereas Nifty ended 41.60 points higher at 15,853.95

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