Daily Sugar Market Update By Vizzie – 14/08/2021

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ChiniMandi, Mumbai: Saturday 14th August 2021
Domestic Market:
Overall Market Scenario:
The market sentiments have been quite positive throughout the week, good demand was also witnessed with sugar prices soaring up between ₹100 to ₹125/quintal in Maharashtra Karnataka, Tamil Nadu & Gujarat. In Uttar Pradesh the prices rose up to ₹150/quintal this week. Good demand was witnessed today despite a bank holiday. Millers closed their sale mid-day.

State wise Prices as on 14th August 2021 :
◾Maharashtra: S/30 Sugar rates from millers are ₹3200 to ₹3240/Qntl. whereas M/30 is at ₹3325 to 3400/Qntl.
◾Karnataka : S/30 Sugar rates were ₹3220 to 3245/Qntl. whereas M/30 is at ₹3270 to 3320/Qntl.
◾Uttar Pradesh: The rate for M/30 is ₹3470 to 3505/Qntl.
◾Gujarat: S/30 Sugar rates are ₹3241 to 3291/Qntl. whereas M/30 rates are at ₹3371 to 3401/Qntl.
◾Tamil Nadu: S/30 Sugar rates are ₹3410 to 3450/Qntl. whereas M/30 rates are at ₹3455 to 3500/Qntl.
(All the above rates are excluding GST)

Indian Sugar Exports
According to latest reports by the Department of Food & Public Distribution, in 2021, approximately 60.01 LMT of sugar has been dispatched from sugar mills for export. Out of which more than 16 LMT i.e more than 26.67% of the Indian sugar exports has been exported to Indonesia and more than 6 LMT to Afghanistan. To read more click here

International Market:
Yesterday’s Closing:
Sugar prices have been skyrocketing throughout the week with concerns on the Brazilian crop. London White Sugar closed at $491.10/ton up $15 whereas New York Sugar closed at 19.95 cents per pound, up 0.41 points.

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹31500 to ₹32000 on ex factory basis – ready delivery for season 2020-21. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹31000 to ₹31300 factory basis for forward contract with delivery in Nov/Dec 2021 for season 2021-22.

“Sugar & Ethanol Overview” in conversation with Mr. Eduardo Leao de Sous,
Executive Director – UNICA

In a recent conversation with ChiniMandi News, Mr. Eduardo Leão de Sous, Executive Director of UNICA shared his views on Brazilian crop, view on the global scenario and India’s way forward towards ethanol. To read more click here

Discussion on “Global perspective for the sugar market until 2030”
Representatives from Brazil, the United States, India and Thailand will discuss next Monday (August 16), 2021 at 10 am Brasilia Time, the “Global perspective for the sugar market until 2030”. The live session is part of the program of the Market Intelligence Room of the 14th National Bioenergy Congress that the UDOP is holding until the next 20th August 2021. The panel will be displayed at 10:00 am Brasília time at the link.

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