Daily Sugar Market Update By Vizzie – 17/07/2020

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ChiniMandi, Mumbai: Friday 17th July 2020
Domestic Market: The market witnessed scanty demand.
Maharashtra: S/30 Sugar rates from millers are ₹3230 to ₹3250/Qntl whereas M/30 ₹3310 to ₹3350
South Karnataka: The rates for S/30 are ₹3370 to 3410 and M/30 are ₹3460
Uttar Pradesh: The rates for M/30 are ₹3350/Qntl.
Gujarat: The rates for New S/30 are ₹3341 whereas M/30 are at ₹3371/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3400 to ₹3475 whereas, M/30 rates are ₹3450 to 3500
(All the above rates are excluding GST)

International Market:
According to reports on Wednesday, sugar prices moved higher throughout the day as a rally in crude oil sparked short-covering in sugar futures.
London White Sugar front month contract is trading at $349.10/tn, whereas US Sugar front month contract is trading at 11.75/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.967 whereas USD traded with BRL at 5.3275, Crude futures traded at Rs.3047, Crude WTI traded at $40.61. Indices ended in the green, sensex closed 548.46 points higher at 37,020.14. Similarly, Nifty ended 161.75 points higher at 10,901.70.

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