Daily Sugar Market Update By Vizzie – 16/07/2021

169

ChiniMandi, Mumbai: Friday 16th July 2021
Domestic Market:

ISMA releases preliminary estimates of Sugar Production in 2021-2022
ISMA estimates sugar production at around 310 LMT in 2021-22 after approximately diverting 34 LMT of sugar into ethanol next season.

Market Scenario:
The market witnessed moderate demand.

State wise Prices as on July 16, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170/Qntl.
In the resale market S/30 is trading at ₹3020 to ₹3050/Qntl. whereas M/30 is trading at ₹3070 to ₹3150/Qntl.
– Karnataka : S/30 Sugar rates from millers are ₹3120 to 3175/Qntl. and M/30 is at ₹3150/Qntl.
– Uttar Pradesh: The rates for M/30 are ₹3225 to 3230/Qntl.
– Gujarat: S/30 Sugar rates are ₹3100 to 3131/Qntl. whereas M/30 rates are at ₹3151 to 3181/Qntl.
– Tamil Nadu: S/30 Sugar rates are ₹3175 to 3225/Qntl. whereas M/30 rates are at ₹3250 to 3275/Qntl.
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:
On Thursday sugar prices closed higher on the outlook of ample global supplies by Brazil and India. London White Sugar closed at $436/ton up $10.70 whereas New York Sugar closed at 17.33 cents per pound, up 0.40 points.

Market Today :
London White Sugar front month contract is trading at $456.90/tn whereas New York Sugar front month contract is trading at 17.31/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28600 to ₹28800 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.609 whereas USD was trading with BRL at 5.0995 Crude futures traded at Rs.5385 Crude WTI traded at $72.19 a barrel. Sensex closed 18.79 points lower at 53,140.06 whereas Nifty ended 0.80 points higher at 15,923.40
To receive ChiniMandi updates on WhatsApp, please click on the link below.
WhatsApp Group Link

LEAVE A REPLY

Please enter your comment!
Please enter your name here