Daily Sugar Market Update By Vizzie – 16/10/2020

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ChiniMandi, Mumbai: Friday, 16th October 2020
Domestic Market:
The market held a mixed trend nationwide, market experts are optimistic about the demand coming in with the dawn of major Hindu festivals.
In Maharashtra: S/30 Sugar rates from millers are ₹3130/Qntl whereas M/30 ₹3240 to 3260
South Karnataka: S/30 Sugar rates are ₹3175 to 3250 whereas, M/30 rates are ₹3255 to ₹3300
Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.
Gujarat: The rates for M/30 are at ₹3201 to 3221/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3275 to 3375 whereas, M/30 rates are 3350 to 3425.
(All the above rates are excluding GST)

International Market:
According to reports on Thursday, sugar prices moved higher after the updation in forecasts of Brazil’s sugar growing areas. Yet, New York sugar gave away its advance and moved low after the Brazilian Real fell against the dollar.

London White Sugar front month contract is trading at $387.70/tn, whereas New York Sugar front month contract is trading at 14.15/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.344 whereas USD was trading with BRL at 5.6210 Crude futures traded at Rs.2965, Crude WTI traded at $40.44 a barrel. Indian Indices ended in the green. Sensex closed 254.57 points higher at 39,982.98 whereas Nifty ended 82.10 points higher at 11,762.45.

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