Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Friday 17th May 2019

Domestic: The week came to an end witnessing moderate demand nationwide. In Maharashtra,  Mills are opening their rates at Rs.3100 to Rs.3150/Qntl, whereas in Resell, the rates are Rs.3060 to 3100. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3300. In resale, the market rates are Rs.3220 to 3270. In Gujarat, S/30 is trading at Rs.3130 to 3150. In Tamil Nadu, Mill trades are taking place at Rs.3300 to Rs.3340 excluding GST.

International:  The market is steady. London White Sugar is trading at $322.30 whereas US Sugar is trading at $11.66

The FOB indication for raw sugar was at $320-$322 and Indian White Sugar at $335-$337.

The demand of Raw Sugar range was ₹20000-20200/mt and White Sugar ₹21300-₹21500/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 70.21 meanwhile USD traded with BRL at 4.054, Crude Futures traded at ₹4442, Crude WTI is trading at $63.24

Indices: Sensex rose by 537.29 points to settle at 37,930.77 as fresh buying was seen in Auto, FMCG, Bankex Realty, Capital Goods and consumer durable stocks. Nifty too rose by 150.05 points to close at 11,407.15.

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