Daily Sugar Market Update By Vizzie – 17/03/2021

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ChiniMandi, Mumbai: Wednesday 17th March 2021
Domestic Market:
The market witnessed moderate demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3215 to 3175. In the resale market S/30 is trading at ₹3000 to ₹3050 whereas M/30 is trading at ₹3050 to ₹3115
South Karnataka: S/30 rates are ₹3140 to 3160.
Uttar Pradesh: The rates for M/30 are ₹3190 to 3220
Gujarat: The rates for old S/30 and ₹M/30 at 3101 whereas new M/30 ₹3135 to 3161.
Tamil Nadu: S/30 Sugar rates are ₹3180 to 3250.
(All the above rates are excluding GST)

International Market:
On Tuesday sugar prices closed slight higher on concerns about reduced Brazil sugar exports. At the time of writing this update London White Sugar front month contract is trading at $459.10/tn, whereas New York Sugar front month contract is trading at 16.12/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27150 to ₹27250 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27150 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 72.563 whereas USD was trading with BRL at 5.6236 Crude futures traded at Rs.4665, Crude WTI traded at $64.24 a barrel. Sensex closed 562.34 points lower at 49,801.62 whereas Nifty ended 189.15 points lower at 14,721.30.

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