Daily Sugar Market Update By ‘Vizzie’ – 16/04/2019

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ChiniMandi, Mumbai – Tuesday 16th April 2019

• Domestic: No major movement has been witnessed nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3110/Qntl, whereas in Resell, the rates are Rs.2990 to 3020. In Uttar Pradesh, Mill sales are taking place at Rs.3190 to 3230. In resale, the market rates are Rs.3135 to 3170. In Gujarat, S/30 is trading at Rs.3110 to 3120. In Tamil Nadu, Mill trades are taking place at Rs.3225 to Rs.3300 excluding GST.

• International: London White Sugar is trading at $335.10 whereas US Sugar is trading at $12.56.

The FOB indication for raw sugar was at $308-$310 and Indian White Sugar at $318-$320.
The demand of Raw Sugar range was ₹19200-19400/mt and White Sugar ₹19800-₹20000/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.71 meanwhile USD traded with BRL at 3.872, Crude Futures traded at ₹4416, WTI $63.46.

•Indices: Equity benchmark Sensex rallied about 370 points to scale a record closing high of 39,275.64 as investors’ sentiment got a further boost from the forecast of a near-normal monsoon and a bumper start of corporate earnings season. Similarly, the broader NSE Nifty surged 97 points to close at a fresh high of 11,787.15.

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