Daily Sugar Market Update By Vizzie – 18/03/2021

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ChiniMandi, Mumbai: Thursday 18th March 2021
Domestic Market:
The market witnessed moderate demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3215 to 3175. In the resale market S/30 is trading at ₹3000 to ₹3050 whereas M/30 is trading at ₹3050 to ₹3115
South Karnataka: S/30 rates are ₹3140 to 3160.
Uttar Pradesh: The rates for M/30 are ₹3190 to 3220
Gujarat: The rates for old S/30 and ₹M/30 at 3101 whereas new M/30 ₹3135 to 3161.
Tamil Nadu: S/30 Sugar rates are ₹3180 to 3250.
(All the above rates are excluding GST)

International Market:
On Tuesday sugar prices closed lower on strong Indian sugar output and weakness in the Brazilian Real.
At the time of writing this update London White Sugar front month contract is trading at $459.10/tn, whereas New York Sugar front month contract is trading at 16.12/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27250 to ₹27350 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 72.504 whereas USD was trading with BRL at 5.5847 Crude futures traded at Rs.4684, Crude WTI traded at $64.59 a barrel. Sensex closed 585.10 points lower at 49,216.52 whereas Nifty ended 163.45 points lower at 14,557.85.

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