Daily Sugar Market Update by ‘Vizzie’ 19/11/2019

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ChiniMandi, Mumbai Tuesday, 19th November 2019

Domestic: The market witnessing scanty demand nationwide.

Maharashtra: S/30 Sugar trades are taking place at Rs. 3050 to Rs.3100/Qntl whereas M/30 trades are taking place at Rs. 3150 to Rs.3200.

South Karnataka:S/30 trades are taking place from 3180 to 3200 & M-30, 3200 to 3250.

Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to 3400.

Gujarat: S/30 Sugar is trading at Rs.3140 to Rs.3160 and M/30 Rs.3230 to 3290.

Kolkata: The trades for S/30 are taking place at Rs.3570 to 3580.

Tamil Nadu: S/30 Sugar is trading at Rs.3225 to Rs.3350 whereas M/30 is trading at Rs.3300 to 3325.

*All the domestic rates except Kolkata are excluding GST.

International Market: There is a good demand for ready delivery white sugar of season 2018/19. The prices are at Rs.20300 to Rs.20400. For 2019-20 crop December delivery the demand is Rs.20700-20800 ex factory basis however there is no seller in the market at this point of time. For Raw sugar 2019-20 crop, prices are at Rs.30200 to Rs.30300 ex factory basis.

The FOB indication for Indian White Sugar is at $330-332. London White Sugar front month contract is trading at $339.00/tn whereas US Sugar front month contract is trading at 12.71/lb at the time of writing this update.

Currency,Commodity & Indian Indices: The rupee traded against the US dollar at 71.7698 meanwhile USD traded with BRL at 4.2180, Crude Futures trades at Rs.4058, Crude WTI traded at $56.56.  Indian markets moved higher amid mild gains in Asian peers. Sensex closed 185.51  points higher at 40,469.70 whereas Nifty 50 closed 55.60 points higher at 11,940.10.

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