Daily Sugar Market Update By Vizzie – 17/01/2020

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ChiniMandi, Mumbai: Friday, 17th January 2020

Domestic: The market witnessed moderate demand nationwide.
Maharashtra: S/30 Sugar trades are taking place at Rs. 3160 to Rs.3180/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3240 to Rs.3275 whereas M/30 trades are taking place at Rs.3290 to Rs.3325
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3305 to Rs.3405.
Gujarat: S/30 Sugar is trading at Rs.3260 to Rs.3270 and M/30 at Rs.3340 to Rs.3360.
Kolkata: The trades for S/30 are taking place at Rs.3495 to Rs.3550 whereas M/30 trades are taking place at Rs.3620 to Rs.3650
Tamil Nadu: S/30 Sugar is trading at Rs.3325 to Rs.3375 whereas M/30 is trading at Rs.3375 to 3400.
*All the domestic rates except Kolkata are excluding GST.

International Market: Good demand was witnessed. In Maharashtra, the trade hit a new level. White sugar of season 2018/19 icumsa 150 ready delivery is traded at Rs.22700 to Rs. 23000 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.23000 to Rs.23200 ex. factory basis.
The FOB indication for raw sugar is at $352 to $354. For white sugar icumsa 150 season 2018/19 the FOB indication stands at $359 to 362. For white sugar icumsa 100 Season 2019/20 the FOB indication is $364 to 366.
London White Sugar front month contract is trading at $398.10/tn whereas US Sugar front month contract is trading at 14.41/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 71.071, meanwhile USD traded with BRL at 4.1755, Crude Futures traded at Rs. 4167, Crude WTI traded at $58.69.  Sensex ended today at 12.81 points higher at 41,945.37. Similarly, Nifty ended 3.15 points down at 12,352.35.

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