Daily Sugar Market Update By Vizzie – 19/08/2021

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ChiniMandi, Mumbai: Wednesday 19th August 2021
Domestic Market:
GOI releases estimated balance sheet for sugar season 2021-22
In a notification issued on the 18th day of 2021, the Department of Food & Public Distribution released an advisory to the Indian sugar industry regarding the upcoming sugar season 2021-22. For more details click here

Overall Market Scenario Today:
Sugar prices in Gujarat remained firm, demand wasn’t witnessed much whereas in Tamil Nadu prices continued taking an upward trend with good demand. The market in Maharashtra, Karnataka and Uttar Pradesh have seen sugar prices taking a cool down. The demand in Maharashtra and Karnataka was scanty due to the transportation issues.

State wise Prices as on 19th August 2021 :
Maharashtra: S/30 Sugar rates from millers are ₹3300 to ₹3365/Qntl. whereas M/30 is at ₹3390 to 3525/Qntl.
Karnataka : S/30 Sugar rates were ₹3300 to 3400/Qntl. whereas M/30 is at ₹3400 to 3550/Qntl.
Uttar Pradesh: The rate for M/30 is ₹3500 to 3530/Qntl.
Gujarat: S/30 Sugar rates are ₹3471 to 3511/Qntl. whereas M/30 rates are at ₹3601 to 3651/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3500 to 3625/Qntl. whereas M/30 rates are at ₹3650 to 3675/Qntl.
(All the above rates are excluding GST)

Indian Sugar Exports to Afghanistan
Taliban’s takeover of Afghanistan is said to leave an adverse impact on the bilateral trade relations with India. ‘Sugar’ is amongst the top affected products imported by Afghanistan. Click here to read more on the impact of sugar exports through India.

International Market:
Yesterday’s Closing:
On Wednesday sugar prices closed higher on concerns over the Brazilian crop. London White Sugar closed at $504.40/ton up $3.10 whereas New York Sugar closed at 20.17 cents per pound, up 0.15 points.

Market Today :
The London White Sugar front month contract is trading at $500.20/tn whereas the New York Sugar front month contract is trading at 19.99/lb.

“Sugar & Ethanol Overview” in conversation with Mr. Eduardo Leao de Sous, Executive Director – UNICA
In a recent conversation with ChiniMandi News, Mr. Eduardo Leão de Sous, Executive Director of UNICA shared his views on Brazilian crop, view on the global scenario and India’s way forward towards ethanol. To read more click here

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.381 whereas USD was trading with BRL at 5.4180 Crude futures traded at Rs.4715, Crude WTI traded at $63.26 a barrel. Indian indices did not trade today on the occasion of Muharram.

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