Daily Sugar Market Update By Vizzie – 16/08/2021

ChiniMandi, Mumbai: Monday 16th August 2021
Domestic Market:

Market Overview :
The market sentiments have been quite positive throughout two weeks.. Good demand has also been witnessed with sugar prices soaring up. Click here for more details 

State wise Prices as on 16th August 2021 :
Maharashtra: S/30 Sugar rates from millers are ₹3250 to ₹3350/Qntl. whereas M/30 is at ₹3375 to 3475/Qntl.
Karnataka : S/30 Sugar rates were ₹3300 to 3350/Qntl. whereas M/30 is at ₹3400 to 3450/Qntl.
Uttar Pradesh: The rate for M/30 is ₹3570 to 3600/Qntl.
Gujarat: S/30 Sugar rates are ₹3321 to 3351/Qntl. whereas M/30 rates are at ₹3421 to 3501/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3450 to 3500/Qntl. whereas M/30 rates are at ₹3500 to 3550/Qntl.
(All the above rates are excluding GST)

Indian Sugar Exports
According to latest reports by the Department of Food & Public Distribution, in 2021, approximately 60.01 LMT of sugar has been dispatched from sugar mills for export. Out of which more than 16 LMT i.e more than 26.67% of the Indian sugar exports has been exported to Indonesia and more than 6 LMT to Afghanistan. To read more click here

International Market:
Yesterday’s Closing:
Sugar prices have been skyrocketing throughout the whole last week with concerns on the Brazilian crop. On Friday London White Sugar closed at $491.10/ton up $15 whereas New York Sugar closed at 19.95 cents per pound, up 0.41 points. To know more, click here and read our latest episode on the Weekly Comment – World Sugar Market

Market Today :
The London White Sugar front month contract is trading at $498.20/tn whereas the New York Sugar front month contract is trading at 20.12/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 ₹31500 to ₹32000 on ex factory basis – ready delivery for season 2020-21. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹31000 to ₹31300 factory basis for forward contract with delivery in Nov/Dec 2021 for season 2021-22.

“Sugar & Ethanol Overview” in conversation with Mr. Eduardo Leao de Sous, Executive Director – UNICA
In a recent conversation with ChiniMandi News, Mr. Eduardo Leão de Sous, Executive Director of UNICA shared his views on Brazilian crop, view on the global scenario and India’s way forward towards ethanol. To read more click here