Daily Sugar Market Update By Vizzie – 14/12/2019

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ChiniMandi, Mumbai: Saturday 14th December, 2019
Domestic: The market continued witnessing moderate demand nationwide.
Maharashtra: S/30 Sugar trades are taking place at Rs. 3040 to Rs.3080/Qntl.
South Karnataka:  M/30 trades are taking place at Rs.3200 to 3220.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3245 to 3550.
Gujarat: S/30 Sugar is trading at Rs.3120 to Rs.3140 and M/30 Rs.3250 to 3270.
Kolkata: The trades for S/30 are taking place at Rs.3435 to 3450.
Tamil Nadu: S/30 Sugar is trading at Rs.3275 to Rs.3280 whereas M/30 is trading at Rs.3325 to 3350.
*All the domestic rates except Kolkata are excluding GST.
In the International market a good demand was witnessed mid week from Iran. Exporters anticipate that this would keep the prices firm in the upcoming week too. Mar NY sugar fell back from a 13-month high Friday and closed lower after the Brazilan real retreated from a 5-week high and fell by -0.42%. Mar NY sugar early Friday posted a 13-month high and Mar London sugar climbed to a fresh 9-1/2 month high on fund buying. Sugar prices have moved steadily higher over the past seven weeks as the outlook for smaller global supplies sparked technical buying.

Indian indices added gains owing to positive global cues. The Indian rupee also continued its upward momentum as it ended higher by 39 paise at 70.81 on December 13 versus the closing of 71.20 last week.

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