Daily Sugar Market Update By Vizzie – 15/04/2021

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ChiniMandi, Mumbai: Thursday 15th April 2021
Domestic Market:
The market witnessed good demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3120 to ₹3150/Qntl. whereas M/30 ₹3230 to 3175. In the resale market S/30 is trading at ₹3050 to ₹3100 whereas M/30 is trading at ₹3085 to ₹3150.
South Karnataka: S/30 rates are ₹3225 to 3275 whereas M/30 is ₹3235 to 3325
Uttar Pradesh: The rates for M/30 are ₹3310 to 3335
Gujarat: The rates new S/30 at ₹3191 whereas new M/30 ₹3251
Tamil Nadu: S/30 Sugar rates are ₹3275 to 3350 whereas M/30 rates are at ₹3350 to 3400
(All the above rates are excluding GST)

International Market
On Wednesday sugar prices closed sharply higher, after a +4% rally in crude oil prices. At the time of writing this update London White Sugar front month contract is trading at $446.90/tn, whereas New York Sugar front month contract is trading at 15.93/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27500 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 75.053 whereas USD was trading with BRL at 5.6259 Crude futures traded at Rs.4710, Crude WTI traded at $62.72 a barrel. Sensex closed 259.62 points higher at 48,803.68 whereas Nifty ended 76.65 points higher at 14,581.45

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