Daily Sugar Market Update By Vizzie – 16/12/2020

ChiniMandi, Mumbai: Wednesday 16th December 2020

Domestic Market: The market witnessed moderate demand with prices remaining firm.

In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl. whereas M/30 ₹3180 to 3250. In the resale market S/30 of 2019-20 is trading at ₹3000 to ₹3030 & S/30 of 2020-2021 is trading at 3025 to 3075.

South Karnataka: Sugar rates for S/30 grade, season 2020-2021 is trading at ₹3100 to 3150 whereas, M/30 rates are ₹3300 to 3325.
Uttar Pradesh: The rates for M/30 are ₹3275 to 3300.
Gujarat: The rates for S/30 are ₹3105 to ₹3111 whereas M/30 are at ₹3111 to 3171/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3300 whereas, M/30 rates are 3300 to 3325.
(All the above rates are excluding GST)

International Market: According to reports on Tuesday, sugar prices moved higher after the Director of UNICA, said that Brazil’s 2021/22 sugar production would “definitely” be lower due to this year’s drought.

London White Sugar front month contract is trading at $393.80/tn, whereas New York Sugar front month contract is trading at 14.30/lb.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.625 whereas USD was trading with BRL at 5.1040 Crude futures traded at Rs.3508, Crude WTI traded at $47.62 a barrel. Sensex closed 403.29 points higher at 46,666.46 whereas Nifty ended 114.85 points higher at 13,682.70.

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