Daily Sugar Market Update by ‘Vizzie’ – 14/10/2019

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ChiniMandi, Mumbai – Monday 14th October 2019

Domestic: The market witnessed low demand. 
Maharashtra: S/30 Sugar trades are taking place at Rs.3110 to Rs.3180/Qntl whereas M/30 trades took place at Rs.3250 to Rs.3360.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3410 to 3560.
Gujarat: S/30 Sugar is trading at Rs.3200 to Rs.3250 and M/30 Rs.3300 to 3350
Kolkata: The trades for M/30 are taking place at Rs.3810 to 3840.
Tamil Nadu: S/30 Sugar is trading at Rs.3340 to Rs.3460 whereas M/30 is trading at Rs.3410 to 3430.
*All the domestic rates except Kolkata are excluding GST

International Market: There was good demand for white sugar crop 2018/19 ICUMSA below 150 for ready shipments at Rs.20500 to Rs.20700 Ex. factory basis. The FOB indication for Indian White Sugar is at $330-332. London White Sugar front month contract is trading at $346.40/tn whereas US Sugar front month contract is trading at 12.55cnts/lb at the time of writing this update. 

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 71.182 meanwhile USD traded with BRL at 4.1251, Crude Futures traded at Rs.3817, Crude WTI traded at $53.55. Indian Indices ended higher buoyed by auto and real estate stocks, as investors awaited headline inflation data due later in the evening. Sensex ended 87.39 points higher at 38,214.17 whereas Nifty closed 36.10 points higher at 11,341.15

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