Daily Sugar Market Update By Vizzie – 19/06/2020

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ChiniMandi, Mumbai: Friday 19th June 2020
Domestic Market: The market witnessed demand picking up nationwide.
Maharashtra: S/30 Sugar rates from millers are ₹3150 to ₹3210/Qntl whereas ₹3210 to 3260
South Karnataka: The rates for S/30 are ₹3500/Qntl whereas for M/30 are at ₹3550/Qntl
Uttar Pradesh: The rates for M/30 are ₹3350 to ₹3450/Qntl.
Gujarat: The rates for New S/30 are ₹3251 to 3271 whereas M/30 are at ₹3281 to 3301/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3430 to Rs.3500 whereas, M/30 rates are ₹3500 to 3550.
(All the above rates are excluding GST)

International Market:
According to reports, on Thursday sugar prices traded lower the entire day with London sugar falling to a 2-week low. Bearish factors included weakness in the Brazilian real and signs of abundant sugar supplies. The Brazilian real on Thursday fell sharply by -2.43% to a 2-1/2 week low against the dollar. London White Sugar front month contract is trading at $367.20/tn whereas US Sugar front month contract is trading at 11.98/lb at the time of writing this update.

Currency, Commodity & Indian Indices:The rupee traded against the US dollar at 76.176 whereas USD traded with BRL at 5.3780, Crude futures traded at Rs.3032,Crude WTI traded at $39.78. Indices ended in the green, sensex closed 523.68 points higher at 34,731.73. Similarly, Nifty ended 152.75 points higher at 10,244.40.

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