Daily Sugar Market Update By Vizzie – 14/10/2020

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ChiniMandi, Mumbai: Wednesday 14th October 2020

Domestic Market: The market held a mixed trend nationwide, market experts are optimistic about the demand coming in with the dawn of major Hindu festivals.
In Maharashtra: S/30 Sugar rates from millers are ₹3150/Qntl whereas M/30 ₹3240 to 3260
South Karnataka: S/30 Sugar rates are ₹3220 to 3300 whereas, M/30 rates are ₹3265 to ₹3350.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.
Gujarat: The rates for M/30 are at ₹3201 to 3221/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3325 to 3400 whereas, M/30 rates are 3400 to 3450.
(All the above rates are excluding GST)

International Market: According to reports on Tuesday, sugar prices moved higher with strengthening crude prices and after updation in weather forecasts reduced the rain forecast for this week in Brazil’s sugar-growing areas.

London White Sugar front month contract is trading at $386.70/tn, whereas New York Sugar front month contract is trading at 14.01/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.285 whereas USD was trading with BRL at 5.5701 Crude futures traded at Rs.2931, Crude WTI traded at $40.01 a barrel. Indian Indices ended in the green. Sensex closed 169.23 points higher at 40,794.74 whereas Nifty ended 36.55 points higher at 11,971.05.

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