Daily Sugar Market Update by ‘Vizzie’ – 18/09/2019

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ChiniMandi, Mumbai – Wednesday 18th September 2019

Domestic: The market witnessed a mixed trend. The market prices were down Rs.5 to Rs.10.
Maharashtra: S/30 Sugar trades took place at Rs.3180 to Rs.3220/Qntl whereas M/30 trades took place at Rs.3225 to Rs.3370.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3380 to 3430.
Gujarat: S/30 Sugar is trading at Rs.3225 to Rs.3255 and M/30 Rs.3350 to 3470.
Kolkata: The trades for M/30 are taking place at Rs.3745 to 3795.
Tamil Nadu: S/30 Sugar is trading at Rs.3445 to Rs.3520 whereas M/30 is trading at Rs.3520
*All domestic rates except Kolkata are excluding GST

International Market: The Sugar market continued to consolidate and is trading range bound since opening. London White Sugar front month contract is trading at $321.80/tn whereas US Sugar front month contract is trading at $10.97 at 17:10 hours. OCSB has reduced the estimated cane output for 19/20 season to 111.6 mn MTs of cane.

Currency,Commodity & Indian Indices: The rupee was trading against the US dollar at 71.224 meanwhile USD traded with BRL at 4.0804, Crude Futures traded at Rs.4199, Crude WTI traded at $58.80. Ahead of the Fed policy, Sensex closed 82.79 points higher at 36,563.88 while Nifty closed 23.05 points higher at 10,840.

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