ChiniMandi, Mumbai: Wednesday 15th July 2020
Domestic Market: With the rumours of a hike in Minimum Selling Price of sugar the market witnessed quite good demand nationwide.
Maharashtra: S/30 Sugar rates from millers are โน3230 to โน3250/Qntl whereas M/30 โน3310 to 3350
South Karnataka: The rates for S/30 are โน3360 to 3400 and M/30 are โน3450
Uttar Pradesh: The rates for M/30 are โน3350/Qntl.
Gujarat: The rates for New S/30 are โน3301 whereas M/30 are at โน3331/Qntl.
Tamil Nadu: S/30 Sugar rates are โน3400 to 3450 whereas, M/30 rates are โน3450 to 3500
(All the above rates are excluding GST)
International Market:
According to reports on Tuesday, sugar prices closed lower with New York sugar at a 6-week low and London sugar at a 1-1/2 month low. Robust supplies and suspect demand continue to pressure sugar prices. The overall sugar demand picture is bearish for sugar prices.
London White Sugar front month contract is trading at $347.70/tn, whereas US Sugar front month contract is trading at 11.54/lb at the time of writing this update.
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 75.145 whereas USD traded with BRL at 5.3684, Crude futures traded at Rs.3069, Crude WTI traded at $40.84. Indices ended in the green, sensex closed 18.75 points higher at 36,051.81. Similarly, Nifty ended 10,618.20 points higher at 10,618.20.
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