Daily Sugar Market Update By Vizzie – 20/02/2021

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ChiniMandi, Mumbai: Saturday 20th February 2021

Domestic Market:
The market witnessed moderate demand, prices remained firm.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3210 to 3250. In the resale market S/30 is trading at ₹3010 to ₹3065 whereas M/30 is trading at ₹3060 to ₹3200.
South Karnataka: The rates for S/30 at ₹3140 to 3150 whereas, M/30 rates are ₹3130 to 3200
Uttar Pradesh: The rates for M/30 are ₹3210 to 3230
In Gujarat: The rates for old S/30 and M/30 3111 an d new M/30 are prevailing at ₹3131 to 3141
Tamil Nadu: S/30 Sugar rates are ₹3200 to 3300 whereas, M/30 rates are 3250 to 3275.
(All the above rates are excluding GST)

International Market:
On Friday, sugar prices extended the week’s rally on concern about smaller global supplies continuing to fuel fund buying of sugar futures.

March New York world sugar #11 (SBH21) closed up +0.28 (+1.60%) at 17.79/lb, and May London white sugar #5 (SWK21) closed up +8.20 (+1.73%) at $481.40/ton.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at Rs.26000 to Rs.26100 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at Rs.25900 to Rs.26000 factory basis.

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