Daily Sugar Market Update By Vizzie – 20/07/2021

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ChiniMandi, Mumbai: Tuesday 20th July 2021
Domestic Market:

Market Scenario:
The market witnessed moderate demand.

State wise Prices as on July 20, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170/Qntl.
In the resale market S/30 is trading at ₹3130 to ₹3160/Qntl. whereas M/30 is trading at ₹3070 to ₹3150/Qntl.
– Karnataka : S/30 Sugar rates from millers are ₹3130 to 3175/Qntl. and M/30 is at ₹3150/Qntl.
– Uttar Pradesh: The rates for M/30 are ₹3225 to 3250/Qntl.
– Gujarat: S/30 Sugar rates are ₹3100 to 3131/Qntl. whereas M/30 rates are at ₹3151 to 3181/Qntl.
– Tamil Nadu: S/30 Sugar rates are ₹3200 to 3235/Qntl. whereas M/30 rates are at ₹3275/Qntl.
(All the above rates are excluding GST
International Market:
Yesterday’s Closing:
On Monday sugar prices closed lower after crude oil prices plunged in Monday’s trade extending losses, down more than $5 a barrel to the session’s low of $68.46 the lowest since May 2021 after tensions between the US and China escalated. London White Sugar closed at $443.80/ton down $19.40 whereas New York Sugar closed at 17.07 cents per pound, up 0.64 points.

Market Today :
London White Sugar front month contract is trading at $450.30/tn whereas New York Sugar front month contract is trading at 17.38/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28600 to ₹28800 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.
Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.627 whereas USD was trading with BRL at 5.2526 Crude futures traded at Rs.4965 Crude WTI traded at $66.31 a barrel. Sensex closed 354.89 points lower at 52,198.51 whereas Nifty ended 120.30 points lower at 15,632.10.

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