Daily Sugar Market Update By Vizzie – 18/11/2020


ChiniMandi, Mumbai: Wednesday 18th November 2020
Domestic Market: The market witnessed quietness with the ongoing Diwali-atmosphere.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3150/Qntl whereas M/30 ₹3240 to 3270.
South Karnataka: S/30 Sugar rates are ₹3130 to 3210 whereas, M/30 rates are ₹3200 to 3260.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3285/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3350 whereas, M/30 rates are 3300 to 3375.
(All the above rates are excluding GST)

International Market: According to reports on Tuesday sugar prices ended low on some long liquidation pressure after hitting a new high of 8-¾ month high. Sugar prices surged this week after Hurricane Iota on Monday slammed into Central America, that may result in potential damage to sugar crops in Nicaragua, Honduras, and Guatemala.
According to market experts the market
March New York world sugar #11 (SBH21) closed down -0.16 at 15.31. March London white sugar #5 (SWH21) closed down -6.70 at $414.10.
London White Sugar front month contract is trading at $418.50/tn, whereas New York Sugar front month contract is trading at 15.51/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.190 whereas USD was trading with BRL at 5.3285 Crude futures traded at Rs.3136, Crude WTI traded at $42.50 a barrel. Indian Indices ended in the green. Sensex closed 227.34 points higher at 44,180.05 whereas Nifty ended 64.05 points higher at 12,938.25.

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