Daily Sugar Market Update By Vizzie – 15/10/2020

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ChiniMandi, Mumbai: Thursday 15th October 2020
Domestic Market: The market held a mixed trend nationwide, market experts are optimistic about the demand coming in with the dawn of major Hindu festivals.

In Maharashtra: S/30 Sugar rates from millers are ₹3130/Qntl whereas M/30 ₹3240 to 3260
South Karnataka: S/30 Sugar rates are ₹3175 to 3250 whereas, M/30 rates are ₹3255 to ₹3300
Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.
Gujarat: The rates for M/30 are at ₹3201 to 3221/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3275 to 3375 whereas, M/30 rates are 3350 to 3425.
(All the above rates are excluding GST)

International Market: According to reports on Wednesday, sugar prices saw support tracking gains in crude oil prices that rose more than 2%.

London White Sugar front month contract is trading at $387.70/tn, whereas New York Sugar front month contract is trading at 14.15/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.435 whereas USD was trading with BRL at 5.6453 Crude futures traded at Rs.2931, Crude WTI traded at $39.66 a barrel. Indian Indices ended in the red. Sensex closed 1066.33 points lower at 39,728.41 whereas Nifty ended 290.70 points lower at 11,680.35.

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