Daily Sugar Market Update By Vizzie – 17/11/2020

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ChiniMandi, Mumbai: Tuesday 17th November 2020
Domestic Market: The market witnessed quietness with the ongoing Diwali-atmosphere.
In Maharashtra: S/30 Sugar rates from millers are ₹3110 to ₹3150/Qntl whereas M/30 ₹3240 to 3270.
South Karnataka: S/30 Sugar rates are ₹3130 to 3210 whereas, M/30 rates are ₹3200 to 3260.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3285/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3350 whereas, M/30 rates are 3300 to 3400.
(All the above rates are excluding GST)

International Market: According to reports on Monday sugar prices rallied sharply to 8-3/4 month highs owing to global sugar crop concerns.
March New York world sugar #11 (SBH21) closed up +0.51 at 15.47. March London white sugar #5 (SWH21) closed up +14.00 at $420.80.
London White Sugar front month contract is trading at $421.20/tn, whereas New York Sugar front month contract is trading at 15.47/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.489 whereas USD was trading with BRL at 5.4058 Crude futures traded at Rs.3069, Crude WTI traded at $41.20 a barrel. Indian Indices ended in the green. Sensex closed 314.73 points higher at 43952.71 whereas Nifty ended 93.95 points higher at 12874.20

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