Daily Sugar Market Update By Vizzie – 19/11/2020

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ChiniMandi, Mumbai: Thursday 19th November 2020
Domestic Market: The market was steady with prices range bound.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3150/Qntl whereas M/30 ₹3240 to 3270.
South Karnataka: S/30 Sugar rates are ₹3130 to 3210 whereas, M/30 rates are ₹3200 to 3260.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3285/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3350 whereas, M/30 rates are 3300 to 3375.
(All the above rates are excluding GST)
International Market: According to reports on Wednesday sugar prices ended with moderate gains. Market experts believe the market is likely to remain range bound until there is somee announcement on exports of sugar from India.
March New York world sugar #11 (SBH21) closed up +0.14 at 15.45. March London white sugar #5 (SWH21) closed up -+2.80at $416.90
London White Sugar front month contract is trading at $415.60/tn, whereas New York Sugar front month contract is trading at 15.27/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.197 whereas USD was trading with BRL at 5.3495 Crude futures traded at Rs.3082, Crude WTI traded at $41.73 a barrel. Indian Indices ended in the red. Sensex closed 580.09 points lower at 43,599.96 whereas Nifty ended 166.55 points lower at 12,771.70.

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