Daily Sugar Market Update By Vizzie – 19/10/2020

ChiniMandi, Mumbai: Monday 19th October 2020
Domestic Market: The market held a mixed trend nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3140/Qntl whereas M/30 ₹3240 to 3270
South Karnataka: S/30 Sugar rates are ₹3175 to 3225 whereas, M/30 rates are ₹3255 to ₹3275.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.
Gujarat: The rates for M/30 are at ₹3181 to 3221/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3275 to 3350 whereas, M/30 rates are 3350 to 3400.
(All the above rates are excluding GST)

International Market: According to reports on Friday, sugar prices moved higher, with London sugar peaking at 4-1/4 month high on concern that dry conditions in Brazil may curb sugarcane yields as updated weather forecasts reduced the chance of rain over the next week in Brazil’s sugar-growing areas.

New York sugar closed +0.25 at 14.43/lb whereas London sugar closed +7.80 up at $396.

London White Sugar front month contract is trading at $398/tn, whereas New York Sugar front month contract is trading at 14.55/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.319 whereas USD was trading with BRL at 5.5981 Crude futures traded at Rs.2989, Crude WTI traded at $40.95 a barrel. Indian Indices ended in the green. Sensex closed 448.62 points higher at 40,431.60 whereas Nifty ended 110.60 points higher at 11,873.05.

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