Daily Sugar Market Update By ‘Vizzie’ – 15/07/2019

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ChiniMandi, Mumbai – Monday 15th July 2019

Indian: The week began with no major movement. In Maharashtra, mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3030 to 3075. In Uttar Pradesh, Mill sales are taking place at Rs.3180 to 3310. In resale, the rates are Rs.3185 to 3310. In Gujarat, S/30 is trading at Rs.3100 to 3140. In Tamil Nadu, Mill trades are taking place at Rs.3160 to Rs.3200 excluding GST.

International: The market was stable. London White Sugar is trading at $298.00 whereas US Sugar is trading at $11.99.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.
The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.522 meanwhile USD traded with BRL at 3.7394, Crude Futures traded at ₹4159, Crude WTI is traded at $60.67. Domestic equity indices ended higher on Monday, driven by heavy gains in index heavyweight Infosys and positive macroeconomic cues. The 30-share index settled 160.48 points higher at 38,896.71. The broader NSE Nifty ended 35.85 points up at 11,588.35.

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