Daily Sugar Market Update By Vizzie -19/02/2020

ChiniMandi, Mumbai: Wednesday 19th February 2020

Domestic Market: The market continued to be steady.
Maharashtra: S/30 Sugar trades are taking place at Rs.3100 to Rs.3150/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3225 to Rs. 3250 whereas M/30 trades are taking place at Rs.3270 to 3300.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to Rs.3350.
Gujarat: S/30 Sugar is trading at Rs.3155 whereas M/30 Sugar is trading at Rs.3240 to Rs.3270.
Kolkata: The trades for S/30 are taking place at Rs.3540 to Rs.3560 whereas M/30 trades are taking place at Rs.3600 to Rs.3610.
Tamil Nadu: S/30 Sugar is trading at Rs. 3275 to Rs.3440 whereas M/30 is trading at Rs.3325 to 3400.
*All the domestic rates except Kolkata are excluding GST

International Market: No major movement was witnessed in the market. White sugar of season 2018/19 icumsa 150 ready delivery is trading at Rs.23900 to Rs. 24000 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.24200 to Rs.24300 ex. factory basis. The FOB indication for white sugar icumsa 150 season 2018/19 is $375 to $376. For white sugar icumsa 100 Season 2019/20 the FOB indication is $382 to $384. Sugar prices rallied Tuesday on signs of tighter global sugar supplies.

London White Sugar front month contract is trading at $420.60/tn whereas US 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 71.502 meanwhile USD traded with BRL at 4.3581, Crude Futures traded at Rs.3765, Crude WTI traded at $52.95. Indian Indices ended in the green today. Sensex ended 428.62 points higher at 401,323.00. Similarly, Nifty ended 133.40 points higher at 12,125.90

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