Daily Sugar Market Update By Vizzie – 16/03/2020

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ChiniMandi, Mumbai: Monday 16th March 2020
Domestic Market: The market witnessed quietness with growing fears of coronavirus nationwide.
Maharashtra: S/30 Sugar trades are taking place at Rs.3050 to Rs.3130/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3200 to Rs. 3300 whereas M/30 is taking place at Rs.3275 to Rs.3325/Qntl.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3190 to Rs.3240/Qntl.
Gujarat: The market trades for M/30 are taking place at 3280 to 3300/Qntl.
Kolkata: The trades for S/30 are taking place at Rs.3450 to Rs.3470 whereas M/30 trades are taking place at Rs.3470 to Rs.3480/Qntl.
Tamil Nadu: S/30 Sugar is trading at Rs.3225 to Rs.3300 whereas M/30 trades are taking place at Rs.3275 to Rs.3325/Qntl.
*All the domestic rates except Kolkata are excluding GST

International Market: The market did not witness any major movement.
White sugar of the season 2018/19 icumsa 150 ready delivery is trading at Rs.23000 to Rs. 23200 on ex factory basis. Demand for white sugar of the season 2019/20 icumsa below 100 is at Rs.23200 to Rs.23300 ex. factory basis. The FOB indication for white sugar icumsa 150 season 2018/19 is $350 to $352. For white sugar icumsa 100 Season 2019/20 the FOB indication is $358 to $360.

London White Sugar front month contract is trading at $346.40/tn whereas US Sugar front month contract is trading at 11.25/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.303 whereas USD traded with BRL at 4.8596, Crude futures traded at Rs.2237, Crude WTI traded at $30.25. Indian Indices ended in the red owing to the growing fears of coronavirus. Sensex closed 2713.41 points lower at 31,390.07 whereas Nifty ended 757.90 points lower at 9197.40.

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