Daily Sugar Market Update By Vizzie – 14/08/2020

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ChiniMandi, Mumbai: Friday 14th August 2020
Domestic Market: The market witnessed scanty demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3180/Qntl whereas M/30 ₹3240 to 3280
South Karnataka: S/30 Sugar rates are ₹3370 to 3425 whereas, M/30 rates are ₹3475
Uttar Pradesh: The rates for M/30 are ₹3345 to 3375/Qntl.
Gujarat: The rates for New S/30 are ₹3251 to 3255 whereas M/30 are at ₹3275 to 3280/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3375 to 3460 whereas, M/30 rates are ₹3425 to 3500
(All the above rates are excluding GST)

International Market:
According to reports, on Thursday sugar prices rallied sharply for a second day with New York sugar at a 5-1/4 month high and London sugar at a 1-1/2 week high. The increased Chinese demand for Brazilian sugar has been giving sugar prices a boost.

White sugar of the season 2019/20 icumsa 100 ready delivery is trading at ₹24600 to ₹24800 on ex factory basis. The FOB indication For white sugar icumsa 100 Season 2019/20 is $371 to $373. London White Sugar front month contract is trading at $381.90/tn, whereas New York Sugar front month contract is trading at 13.22/lb at the time of writing this update

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.892 whereas USD is trading with BRL at 5.3962, Crude futures traded at Rs.3158, Crude WTI traded at $42.11. Indian Indices ended in the red . Sensex closed 433.15 points lower at 37,877.34 whereas Nifty ended 122.05 points lower at 11,178.40

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