Daily Sugar Market Update By Vizzie – 19/04/2021

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ChiniMandi, Mumbai: Monday 19th April 2021
Domestic Market:
The market witnessed moderate demand. According to market-men logistics is becoming a worrisome issue leaving liftings pending or deliveries delayed.
In Maharashtra: S/30 Sugar rates from millers are ₹3120 to ₹3150/Qntl. whereas M/30 ₹3230 to 3175. In the resale market S/30 is trading at ₹3050 to ₹3090 whereas M/30 is trading at ₹3070 to ₹3130.
South Karnataka: S/30 rates are ₹3275 to 3300 whereas M/30 is ₹3350
Uttar Pradesh: The rates for M/30 are ₹3310 to 3335
Gujarat: The rates new S/30 at ₹3191 whereas new M/30 ₹3261
Tamil Nadu: S/30 Sugar rates are ₹3300 to 3375 whereas M/30 rates are at ₹3375 to 3425
(All the above rates are excluding GST)

International Market
On Friday sugar prices closed higher on fund buying with concerns about reduced global sugar production. May New York world sugar #11 (SBK21) closed up +0.34 at 16.72/lb (+2.08%) whereas August London white sugar #5 (SWQ21) closed up +6.90 at $463.30 (+1.51%).

At the time of writing this update London White Sugar front month contract is trading at $460.60/tn, whereas New York Sugar front month contract is trading at 16.59/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27500 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.851 whereas USD was trading with BRL at 5.5800 Crude futures traded at Rs.4725, Crude WTI traded at $63.22 a barrel. Sensex closed 882.61 points lower at 47,949.42 whereas Nifty ended 258.40 points lower at 14359.45.

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