Daily Sugar Market Update By Vizzie – 18/01/2021

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ChiniMandi, Mumbai: Monday 18th January 2021
Domestic Market: The market was stable.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl. whereas M/30 ₹3180 to 3250. In the resale market S/30 is trading at ₹2950 to ₹3025 whereas M/30 is trading at ₹3000 to ₹3060
South Karnataka: The rates for S/30 at ₹3060 to 3100 whereas, M/30 rates are ₹3250 to 3300.
Uttar Pradesh: The rates for M/30 are ₹3230
Gujarat: The rates for S/30 are ₹3101 whereas new M/30 are at ₹3141/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3175 to 3250 whereas, M/30 rates are 3120 to 3150.
(All the above rates are excluding GST)

International Market:
In the Indian market, White sugar of the season 2020/21 icumsa 100 ready delivery is trading at Rs.26300 to Rs. 26400 on ex factory basis.
Demand for Raw sugar of season 2020/21 icumsa between 600- 1200 is at Rs.26200 to Rs.26300 factory basis.

According to reports on Friday sugar prices settled lower on dollar strength and weak crude oil prices.
March New York sugar #11 (SBH21) on Friday closed down -0.22 at 16.45 and March London white sugar #5 (SWH21) closed down -2.70 at $461.70.
At the time of writing this update London White Sugar front month contract is trading at $462.10/tn, whereas New York Sugar front month contract is trading at 16.45c/lb.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.278 whereas USD was trading with BRL at 5.2930 Crude futures traded at Rs.3843, Crude WTI traded at $52.49 a barrel. Sensex closed 470.40 points lower at 48564.27 whereas Nifty ended 152.40 points lower at 14281.30.

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