Daily Sugar Market Update By Vizzie – 15/01/2020

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ChiniMandi, Mumbai: Wednesday 15th January 2020
Domestic: The market witnessed a moderate demand, few markets in parts of India remained closed due to Makar Sankranti.
Maharashtra: S/30 Sugar trades are taking place at Rs. 3160 to Rs.3180/Qntl.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3305 to Rs.3405.
Kolkata: The trades for S/30 are taking place at Rs.3495 to Rs.3550 whereas M/30 trades are taking place at Rs.3620 to Rs.3650

International Market: Good demand was witnessed. According to reports, raw sugar is traded at Rs.21900 to Rs.22100 from Kolhapur region due to freight advantages for Jaigarh port. White sugar of season 2018/19 icumsa 150 ready delivery is traded at Rs.22700 to Rs. 23000 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.23000 to Rs.23200 ex. factory basis. From Maharashtra and from Karnataka demand is at Rs. 22500 to Rs.22700 ex factory basis.

The FOB indication for raw sugar is at $352 to $354. For white sugar icumsa 150 season 2018/19 the FOB indication stands at $359 to 362. For white sugar icumsa 100 Season 2019/20 the FOB indication is $364 to 366.

London White Sugar front month contract is trading at $391.20/tn whereas US Sugar front month contract is trading at 14.36/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 70.830, meanwhile USD traded with BRL at 4.1330, Crude Futures traded at Rs.4117, Crude WTI traded at $58.14. Indian Indices ended in the red. Sensex ended 79.90 points lower at 41,872.73 and Nifty50 settled 19 points lower at 12,343.30.

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