Daily Sugar Market Update By ‘Vizzie’ – 20/08/2019

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ChiniMandi, Mumbai – Tuesday 20th August 2019

Indian: The sugar market witnessed a mixed trend. In Maharashtra, dispatches mainly from Sangli & Kolhapur were at halt owing to the issue of transporters labor payment. Mills are opening their rates at Rs.3110 to Rs.3160/Qntl, whereas in Resell, prices are Rs.3100 to 3150. In Uttar Pradesh, Mill sales are taking place at Rs.3340 to 3380. In resale, the rates are Rs.3320 to 3360. In Gujarat, S/30 is trading at Rs.3240 to 3370. In Tamil Nadu, Mill trades are taking place at Rs.3400 to Rs.3500 excluding GST.

International: The sugar market was stable. London White Sugar price is trading at $309.00 whereas US Sugar price is trading at $11.38. The FOB indication for raw sugar was at $325-$330 and Indian White Sugar at $340-$345. The demand of Raw Sugar range was ₹20200-20500/mt and White Sugar ₹21500-₹21800/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 71.408 meanwhile USD traded with BRL at 4.0748, Crude Futures traded at ₹4027, Crude WTI traded at $55.97. Indian indices D-Street remained subdued on Tuesday as no stimulus was in sight for the staggering economy. Indian indices ended today’s volatile session in the red with stocks of the public sector banks sliding the most. The losses were, however, capped by gains in information technology, who gained on the back of a weaker rupee. Sensex close at 37,328 level, down 74 points or 0.20 per cent. The broader
Nifty slipped 37 points to settle at 11,017 mark.

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