Daily Sugar Market Update By Vizzie – 16/09/2020

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ChiniMandi, Mumbai: Wednesday, 16th September 2020

Domestic Market: The market continued to remain stable nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3170/Qntl whereas M/30 ₹3240 to 3260

South Karnataka: S/30 Sugar rates are ₹3290 to 3400 whereas, M/30 rates are ₹3450 to 3500.

Uttar Pradesh: The rates for M/30 are ₹3360 to 3400/Qntl.

Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3390 to 3450 whereas, M/30 rates are ₹3450 to 3500.

(All the above rates are excluding GST)

International Market: According to reports, on Tuesday sugar prices moved higher as they consolidated above Monday’s 7-week lows. A rally in the Brazilian real to a 6-week high Tuesday against the dollar sparked short-covering in sugar futures.

London White Sugar front month contract is trading at $353.40/tn, whereas New York Sugar front month contract is trading at 12.15/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.530 whereas USD was trading with BRL at 5.2475, Crude futures traded at Rs.2880, Crude WTI traded at $39.16 a barrel. Indian Indices ended in the green. Sensex closed 258.50 points higher at 39,302.85 whereas Nifty ended 82.75 points higher at 11,604.55.

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