Daily Sugar Market Update By Vizzie – 20/08/2020

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ChiniMandi, Mumbai: Thursday 20th August 2020
Domestic Market: The market witnessed scanty demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3170/Qntl whereas M/30 ₹3240 to 3270
South Karnataka: S/30 Sugar rates are ₹3360 to 3425 whereas, M/30 rates are ₹3450.
Uttar Pradesh: The rates for M/30 are ₹3304 to 3340/Qntl.
Gujarat: The rates for New S/30 are ₹3251 to 3255 whereas M/30 are at ₹3281 to 3291/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3375 to 3475 whereas, M/30 rates are ₹3450 to 3525.
(All the above rates are excluding GST)

International Market: According to reports, on Wednesday New York sugar prices rallied sharply and came close to challenging last Friday’s 5-1/2 month high. Sugar prices continued to see a general strength from strong sugar import demand from China and concerns that drought conditions will reduce Thailand’s sugar crop despite some recent rain.

White sugar of the season 2019/20 icumsa 100 ready delivery is trading at ₹24600 to ₹24800 on ex factory basis. The FOB indication For white sugar icumsa 100 Season 2019/20 is $371 to $373. London White Sugar front month contract is trading at $381.50/tn, whereas New York Sugar front month contract is trading at 13.21/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 75.101 whereas USD is trading with BRL at 5.6173, Crude futures traded at Rs.3,207, Crude WTI traded at $42.61. Indian Indices ended in the end. Sensex closed 394.40 points lower at 38,220.39 whereas Nifty ended 96.20 points lower at 11,312.30

 

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