Daily Sugar Market Update By ‘Vizzie’ – 17/07/2019

ChiniMandi, Mumbai – Wednesday 17th July 2019

Indian: There was moderate demand nationwide. In Maharashtra, mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3045 to 3100. In Uttar Pradesh, Mill sales are taking place at Rs.3180 to 3310. In resale, the rates are Rs.3200 to 3325. In Gujarat, S/30 is trading at Rs.3100 to 3140. In Tamil Nadu, Mill trades are taking place at Rs.3150 to Rs.3200 excluding GST.

International: The market was stable. London White Sugar is trading at $316.10 whereas US Sugar is trading at $12.04.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.

The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.
Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.863 meanwhile USD traded with BRL at 3.762, Crude Futures traded at ₹4006, Crude WTI is traded at $58.24. Indian benchmark indices ended marginally higher on led by banking, IT and FMCG stocks. The Sensex ended 85 points higher at 39,216 while the broader Nifty50 index added 25 points to end at 11,687.

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