Daily Sugar Market Update By ‘Vizzie’ – 18/07/2019

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ChiniMandi, Mumbai – Thursday 18th 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.3210 to 3335. 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 $314.10 whereas US Sugar is trading at $11.76.

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 68.894 meanwhile USD traded with BRL at 3.760, Crude Futures traded at ₹3932, Crude WTI is traded at $57.09. The BSE Sensex was down 318.18 points at 38,897.46 and the Nifty50 fell 90.60 points to 11,596.90.

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