Daily Sugar Market Update By Vizzie – 16/07/2020


ChiniMandi, Mumbai: Thursday 16th July 2020
Domestic Market: With the rumours of a hike in Minimum Selling Price of sugar the market witnessed quite good demand nationwide.
Maharashtra: S/30 Sugar rates from millers are ₹3230 to ₹3250/Qntl whereas M/30 ₹3310 to 3350
South Karnataka: The rates for S/30 are ₹3370 to 3410 and M/30 are ₹3460
Uttar Pradesh: The rates for M/30 are ₹3350/Qntl.
Gujarat: The rates for New S/30 are ₹3331 whereas M/30 are at ₹3361/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3400 to 3475 whereas, M/30 rates are ₹3450 to 3500
(All the above rates are excluding GST)

International Market:
According to reports on Wednesday sugar prices moved higher throughout the day as a rally in crude oil sparked short-covering in sugar futures.
London White Sugar front month contract is trading at $350.20/tn, whereas US Sugar front month contract is trading at 11.83/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 75.211 whereas USD traded with BRL at 5.3685, Crude futures traded at Rs.3057, Crude WTI traded at $40.66. Indices ended in the green, sensex closed 419.87 points higher at 36,471.68. Similarly, Nifty ended 121.75 points higher at 10,739.95.

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