Daily Sugar Market Update By Vizzie – 20/01/2021

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ChiniMandi, Mumbai: Wednesday 20th January 2021
Domestic Market: The market was stable.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl. whereas M/30 ₹3180 to 3250. In the resale market S/30 is trading at ₹2950 to ₹3025 whereas M/30 is trading at ₹3000 to ₹3060
South Karnataka: The rates for S/30 at ₹3060 to 3100 whereas, M/30 rates are ₹3250 to 3300.
Uttar Pradesh: The rates for M/30 are ₹3230
Gujarat: The rates for S/30 are ₹3101 whereas new M/30 are at ₹3141/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3175 to 3250 whereas, M/30 rates are 3120 to 3150.
(All the above rates are excluding GST)

International Market:
On Tuesday, sugar prices closed sharply lower as the weakness in the Brazilian Real sparked long liquidation pressure.

At the time of writing this update London White Sugar front month contract is trading at $455.00/tn, whereas New York Sugar front month contract is trading at 16.20/lb.
In the Indian market, White sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at Rs.26300 to Rs.26400 on ex factory basis.
Demand for Raw sugar of season 2020/21 icumsa between 600- 1200 is at Rs.26200 to Rs.26300 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 72.985 whereas USD was trading with BRL at 5.3342 Crude futures traded at Rs.3922, Crude WTI traded at $53.55 a barrel. Sensex closed 393.83 points higher at 49792.12 whereas Nifty ended 123.55 points higher at 14644.70.

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