Daily Sugar Market Update By Vizzie – 16/05/2022

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ChiniMandi, Mumbai: 16th May 2022

Domestic Trade Market

The market witnessed scanty demand nationwide throughout the week. Sugar prices were ₹40 to 50/Quintal lower than last week.

Ex-mill sugar prices as on May, 16 2022 :

State

S/30

[Rates per Quintal]

M/30

[Rates per Quintal]

Maharashtra

₹3210 to 3270

₹3290 to 3330

Karnataka

₹3210 to 3250

₹3310 to 3350

Uttar Pradesh

₹3460 to 3560

Gujarat

₹3331 to 3371

₹3391 to 3441

Tamil Nadu

₹3465 to 3565

₹3540 to 3625

Madhya Pradesh

₹3320 to 3370

₹3420 to 3450

Punjab

₹3540 to 3591

(All the above rates are excluding GST)

International Trade Market

At the time of writing this update, the London White Sugar #5 (SWK22) front month contract is trading at $554.10/ton, whereas the New York Sugar front month contract is whereas US sugar #11 (SBK22) is trading at 19.51 c/lb.

Currency, Commodity & Indian Indices:

The rupee traded against the US dollar at 77.814 whereas USD was trading with BRL at 5.0580, Crude futures traded at ₹8672, Crude WTI traded at $109.41/barrel. Sensex closed 180.22 points lower at 52,973.84 whereas Nifty ended 60.15 points lower at 15,842.30.

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