Daily Sugar Market Update By Vizzie – 15/07/2020

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 ₹3230 to ₹3250/Qntl whereas M/30 ₹3310 to 3350
South Karnataka: The rates for S/30 are ₹3360 to 3400 and M/30 are ₹3450
Uttar Pradesh: The rates for M/30 are ₹3350/Qntl.
Gujarat: The rates for New S/30 are ₹3301 whereas M/30 are at ₹3331/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3400 to 3450 whereas, M/30 rates are ₹3450 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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