Daily Sugar Market Update By Vizzie – 18/08/2020

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ChiniMandi, Mumbai: Tuesday 18th August 2020
Domestic Market: The market witnessed scanty demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3170/Qntl whereas M/30 ₹3240 to 3270
South Karnataka: S/30 Sugar rates are ₹3360 to 3425 whereas, M/30 rates are ₹3450.
Uttar Pradesh: The rates for M/30 are ₹3304 to 3340/Qntl.
Gujarat: The rates for New S/30 are ₹3251 to 3255 whereas M/30 are at ₹3281 to 3291/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3375 to 3475 whereas, M/30 rates are ₹3450 to 3525.
(All the above rates are excluding GST)

International Market:According to reports, on Monday New York sugar prices fell back from last week’s high on some mild long liquidation pressure. Sugar prices saw some downward pressure from Monday’s sharp -1.64% sell-off in the Brazilian real versus the dollar to a new 2-3/4 month low.

White sugar of the season 2019/20 icumsa 100 ready delivery is trading at ₹24600 to ₹24800 on ex factory basis. The FOB indication For white sugar icumsa 100 Season 2019/20 is $371 to $373.

London White Sugar front month contract is trading at $376.10/tn, whereas New York Sugar front month contract is trading at 12.91/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.653 whereas USD is trading with BRL at 5.5095, Crude futures traded at Rs.3185, Crude WTI traded at $42.65. Indian Indices ended in the green. Sensex closed 477.54 points higher at 38528.32 whereas Nifty ended 138.25 points higher at 11,385.35

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