Daily Sugar Market Update By Vizzie – 14/12/2020

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ChiniMandi, Mumbai: Monday 14th December 2020

Domestic Market: The market witnessed moderate demand with prices remaining firm.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl. whereas M/30 ₹3180 to 3250. In the resale market S/30 of 2019-20 is trading at ₹3000 to ₹3030 & S/30 of 2020-2021 is trading at 3025 to 3075.
South Karnataka:  Sugar rates for S/30 grade, season 2020-2021 is trading at ₹3150 to 3175 whereas, M/30 rates are ₹3325 to 3350.
Uttar Pradesh: The rates for M/30 are ₹3275 to 3300.
Gujarat: The rates for S/30 are ₹3105 to ₹3125 whereas M/30 are at ₹3125 to 3181/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3275 to 3350 whereas, M/30 rates are 3325 to 3350.
(All the above rates are excluding GST)

International Market: According to reports on Friday, sugar prices closed lower on a surge in Brazil Center-South sugar output after UNICA reported that sugar production in the second half of November rose +22.6 y/y to 427 MT. The percentage of cane used for sugar rose to 35.55% in 2020/21 from 23.85% in 2019/20.

London White Sugar front month contract is trading at $392.40/tn, whereas New York Sugar front month contract is trading at 14.35/lb.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar whereas USD was trading with BRL at 5.0129 Crude futures traded at Rs.3463, Crude WTI traded at $47.07 a barrel. Sensex closed 154.45 points higher at 46,253.46 whereas Nifty ended 44.30 points higher at 13,558.15.

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