Daily Sugar Market Update By ‘Vizzie’ – 19/06/2019

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ChiniMandi, Mumbai – Wednesday 19th June 2019

Indian: The sugar market continued with a bearish trend. Sugar mills in Maharashtra, are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3040 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3320. In resale, the rates are Rs.3250 to 3290. In Gujarat, S/30 is trading at Rs.3140 to 3200. In Tamil Nadu, Mill trades are taking place at Rs.3235 to Rs.3350 excluding GST.

International: No major movement was witnessed. London White Sugar price is trading at $332.20 whereas US Sugar price is trading at $12.43.

The FOB indication for raw sugar price was at $336-$338 and Indian White Sugar at $352-$355.

The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.700 meanwhile USD traded with BRL at 3.8600, Crude Futures traded at ₹3755, Crude WTI is trading at $54.07.

Indices: Sensex finished higher, while Nifty flat in the volatile trade. At Sensex close, was up 66.40 points at 39112.74, while Nifty ended flat at 11691.50.

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