Daily Sugar Market Update By Vizzie -17/02/2020


ChiniMandi, Mumbai: Monday 17th February 2020

Domestic Market: Maharashtra: S/30 Sugar trades are taking place at Rs.3100 to Rs.3150/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3250 to Rs. 3270 whereas M/30 trades are taking place at Rs.3270 to 3320.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to Rs.3350.
Gujarat: S/30 Sugar is trading at Rs.3155 whereas M/30 Sugar is trading at Rs.3240 to Rs.3270.
Kolkata: The trades for S/30 are taking place at Rs.3540 to Rs.3560 whereas M/30 trades are taking place at Rs.3600 to Rs.3610.
Tamil Nadu: S/30 Sugar is trading at Rs. 3275 to Rs.3440 whereas M/30 is trading at Rs.3325 to 3400.
*All the domestic rates except Kolkata are excluding GST

International Market: No major movement was witnessed in the market. White sugar of season 2018/19 icumsa 150 ready delivery is trading at Rs.23900 to Rs. 24000 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.24200 to Rs.24300 ex. factory basis. The FOB indication for white sugar icumsa 150 season 2018/19 is $375 to $376. For white sugar icumsa 100 Season 2019/20 the FOB indication is $382 to $384.

According to sources, sugar prices fell back for a second day Friday on long liquidation pressure from commodity funds.

London White Sugar front month contract is trading at $413.80/tn at the time of writing the update. US Sugar is not trading today owing to a holiday at the New York Stock Exchange.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 71.348 meanwhile USD traded with BRL at 4.2977, Crude Futures traded at Rs.3717, Crude WTI traded at $52.31. Indian Indices ended in the red today. Sensex ended 202.05 points lower at 41,055.69. Similarly, Nifty ended 67.65 points lower at 12,045.80.

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