Daily Sugar Market Update By Vizzie – 19/01/2022

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ChiniMandi, Mumbai: 19th January 2022

Indian Market Updates

◾ Latest Update on Sugar Season 2021-22 by ISMA
According to the latest update by Indian Sugar Mills Association (ISMA) 504 sugar mills were in operation in the country as on 15th January 2022 and have produced 151.41 lac tons of. This is 8.63 lac tons higher as compared to last season’s production for the corresponding period.

Statewise Sugar Production

Domestic Trade Market

The market witnessed scanty demand.

State wise prices today:

◾ Maharashtra:S/30 Sugar rates from millers are ₹3140 to ₹3215/Qntl. whereas M/30 ₹3235 to 3315/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3240 to 3290/Qntl. whereas M/30 ₹3290 to 3340/Qntl.
◾ Uttar Pradesh: The rates for M/30 were at ₹3475 to 3510/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3231 to 3341/Qntl. whereas M/30 rates are at ₹3311 to 3441/Qntl.
◾ Tamil Nadu: S/30 Sugar rates are ₹3300 to 3500/Qntl. whereas M/30 rates are at ₹3450 to 3525/Qntl.

(All the above rates are excluding GST)

International Trade Market

Yesterday sugar futures contracts closed higher on international exchanges. London white sugar #5 (SWH22) closed up $2.20 at $510.50/ton whereas US sugar #11 (SBH22) closed up 0.35 points at 18.66 c/lb.

The London White Sugar front month contract is trading at $511.40/ton, whereas the New York Sugar front month contract is trading at 18.93/lb.

Currency, Commodity & Indian Indices:

The rupee traded against the US dollar at 74.381, whereas USD was trading with BRL at 5.5197, Crude futures traded at Rs.6411, Crude WTI traded at $85.36 barrel. Sensex closed 656.04 points lower at 60,098.82 whereas Nifty ended 174.65 points lower at 17,938.40.

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