Daily Sugar Market Update By ‘Vizzie’ – 17/06/2019

ChiniMandi, Mumbai –Monday 17th June 2019

Indian: The sugar market opened slower. Sugar mills in Maharashtra, are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell price are Rs.3040 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3320. In resale, the sugar market rates are Rs.3250 to 3290. In Gujarat, S/30 is trading at Rs.3140 to 3200. In Tamil Nadu, Mill trades are taking place at Rs.3235 to Rs.3350 excluding GST.

International: The Sugar market was stable. London White Sugar is trading at $335.20 whereas US Sugar is trading at $12.74.The FOB indication for raw sugar was at $332-$335 and Indian White Sugar at $348-$350.

The demand of Raw Sugar range was ₹20800-21100/mt and White Sugar ₹21800-₹22000/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.868 meanwhile USD traded with BRL at 3.8906, Crude Futures traded at ₹3644, Crude WTI is trading at $52.12.

Indices: The benchmark index of the Bombay Stock Exchange (BSE) sensex close on Monday tanked by 491.28 points to settle at 38,960.79 after India slapped higher tariffs on certain US products in retaliation to Washington’s decision to remove certain trade privileges for New Delhi. The Nifty of the National Stock Exchange (NSE) too dropped by 151.15 points at 11,672.15.

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