ChiniMandi, Mumbai: Monday 14th March 2021
The market witnessed moderate demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3215 to 3175. In the resale market S/30 is trading at ₹3000 to ₹3040 whereas M/30 is trading at ₹3050 to ₹3105
South Karnataka: S/30 rates are ₹3190 to 3260. M/30 rates are ₹3275.
Uttar Pradesh: The rates for M/30 are ₹3190 to 3220
Gujarat: The rates for old S/30 and ₹M/30 at 3101 whereas new M/30 ₹3135 to 3161.
Tamil Nadu: S/30 Sugar rates are ₹3190 to 3260 whereas, M/30 rates are 3240.
(All the above rates are excluding GST)
On Friday sugar prices closed lower on signs of abundant global sugar production.
May New York world sugar #11 (SBK21) closed down -0.23 at 16.13/lb (-1.41%), and May London white sugar #5 (SWK21) closed down -3.60 at $459.50 (-0.78%).
At the time of writing this update London White Sugar front month contract is trading at $457.90/tn, whereas New York Sugar front month contract is trading at 16.04/lb.
In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27150 to ₹27250 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27150 factory basis.
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 72.559 whereas USD was trading with BRL at 5.6154 Crude futures traded at Rs.4711, Crude WTI traded at $64.88 a barrel. Sensex closed 397 points lower at 50,395.08 whereas Nifty ended 101.45 points lower at 14,929.50.