Daily Sugar Market Update By Vizzie – 16/04/2021

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ChiniMandi, Mumbai: Friday 16th April 2021
Domestic Market:
The market was steady.
In Maharashtra: S/30 Sugar rates from millers are ₹3120 to ₹3150/Qntl. whereas M/30 ₹3230 to 3175. In the resale market S/30 is trading at ₹3050 to ₹3100 whereas M/30 is trading at ₹3085 to ₹3150.
South Karnataka: S/30 rates are ₹3275 to 3300 whereas M/30 is ₹3350
Uttar Pradesh: The rates for M/30 are ₹3310 to 3335
Gujarat: The rates new S/30 at ₹3191to 3200 whereas new M/30 ₹3261
Tamil Nadu: S/30 Sugar rates are ₹3300 to 3375 whereas M/30 rates are at ₹3375 to 3425
(All the above rates are excluding GST)

International Market
On Thursday sugar prices closed Sugar prices on Thursday extended Wednesday’s gains up to 4-week highs. Fund buying propelled sugar prices higher on concern about reduced global sugar production. The May contract of London White Sugar has early figures indicating a delivery of around 132000 tonnes. May New York world (SBK21) closed up +0.08 at 16.38/lb, and May London white sugar #5 (SWK21) closed up +14.00 at $455.60.

At the time of writing this update London White Sugar front month contract is trading at $455.10/tn, whereas New York Sugar front month contract is trading at 16.31/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27500 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.408 whereas USD was trading with BRL at 5.6143 Crude futures traded at Rs.4722, Crude WTI traded at $63.45 a barrel. Sensex closed 28.35 points higher at 48,832.03 whereas Nifty ended 36.40 points higher at 14,617.85.

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