Daily Sugar Market Update by ‘Vizzie’ 18/11/2019

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ChiniMandi, Mumbai Monday, 18th November 2019
Domestic: The week began witnessing scanty demand and prices witnessing bearish trend nationwide.

Maharashtra: S/30 Sugar trades are taking place at Rs. 3050 to Rs.3100 Qntl whereas M/30 trades are taking place at Rs. 3190 to Rs.3250.

South Karnataka:S/30 trades are taking place from 3180 to 3200 & M-30, 3200 to 3250.

Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to 3400.

Gujarat: S/30 Sugar is trading at Rs.3140 to Rs.3160 and M/30 Rs.3230 to 3290.

Kolkata: The trades for S/30 are taking place at Rs.3570 to 3580.

Tamil Nadu: S/30 Sugar is trading at Rs.3225 to Rs.3350 whereas M/30 is trading at Rs.3300 to 3325.
*All the domestic rates except Kolkata are excluding GST.

International Market: There is a good demand for ready delivery white sugar of season
2018/19. The prices are at Rs.20500 to Rs.20700 Ex. factory basis. The FOB indication for Indian White Sugar is at $330-332. London White Sugar front month contract is trading at $335.50/tn whereas US Sugar front month contract is trading at 12.71/lb at the time of writing this update. Mar NY world sugar #11 (SBH20) on Friday closed down -0.08 (-0.62%) and Dec London white sugar #5 (SWZ19) closed down -8.70 (-2.63%). The outlook for increased export selling from Brazil’s sugar producers is weighing on sugar prices after the Brazilian real slumped to a 14-month low against the dollar on Thursday.

Currency,Commodity & Indian Indices: The rupee traded against the US dollar at 71.795 meanwhile USD traded with BRL at 4.1736, Crude Futures trades at Rs.4133, Crude WTI traded at $57.69. Indian markets edged lower today, with Sensex ending moderately lower. Sensex closed 72.50 points lower at 40,284.19 whereas Nifty 50 closed 10.95 points
lower at 11,884.50.

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