Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Wednesday, 27th February 2019

Domestic: Nationwide the sentiments continued to be weak due to which a dullness floated around the market. In Maharashtra, resell, S/30 is trading at ₹3000 to ₹3030. In Uttar Pradesh, Ex mill trades are taking place from ₹3100 to ₹3150. In resell, M/30 sugar is trading at ₹3100 to ₹3150. In Gujarat, S/30 is trading at ₹3110 to 3130. In Chennai, S/30 is trading at ₹3460 to ₹3520 inclusive GST.

• International: The market sensed weak demand today. London White Sugar is trading at $348.00 whereas US Sugar is trading at $12.90.

The FOB indication for raw sugar was at $303-$305 and Indian White Sugar at $315-$318.
The demand of Raw Sugar range was ₹19300-19400/mt and White Sugar ₹19600-₹19800/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 71.26, meanwhile USD traded with BRL at 3.749, Crude Futures traded at ₹4047, WTI $56.56

• Looking at indices, The benchmark BSE Sensex surrendered early gains to end in the negative terrain after a swing amid escalating cross-border tension between India and Pakistan. Investor sentiments took a beating after Pakistani fighter jets on Wednesday violated Indian air space in Jammu and Kashmir’s Poonch and Nowshera sectors, experts said. After opening on a positive note, the 30-share Sensex settled 68.28 points lower at 35,905.43. In a similar movement, the 50-share Nifty ended 28.65 points lower to 10,806.65.

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