Daily Sugar Market Update By Vizzie – 20/08/2021

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ChiniMandi, Mumbai: Friday 20th August 2021

Domestic Market:
Latest : Indian sugar scenario by Government of India
Our latest article brings to you details on the Indian sugar scenario by Government of India
Key Highlights
Overview | Balance Sheet for Sugar Season 2021-22 | Current Exports & Outlook | Diversion of Sugar to Ethanol | Cane Dues | Global Sugar View from Indian Perspective | Incentive from the Government to sugar mills for sugar exports and Diversion of sugar to ethanol
For more details click here

Domestic Market Scenario:
Sugar prices in Gujarat and Tamil Nadu remained firm, demand wasn’t witnessed much. The market in Maharashtra, Karnataka and Uttar Pradesh have seen sugar prices taking a cool down. The demand in Maharashtra and Karnataka was scanty due to the transportation issues. To know more on the transportation issue, click here 

State wise Prices as on 20th August 2021 :
– Maharashtra: S/30 Sugar rates from millers are ₹3300 to ₹3365/Qntl. whereas M/30 is at ₹3390 to 3525/Qntl.
– Karnataka : S/30 Sugar rates were ₹3300 to 3400/Qntl. whereas M/30 is at ₹3400 to 3550/Qntl.
– Uttar Pradesh: The rate for M/30 is ₹3470 to 3500/Qntl.
– Gujarat: S/30 Sugar rates are ₹3471 to 3511/Qntl. whereas M/30 rates are at ₹3601 to 3651/Qntl.
– Tamil Nadu: S/30 Sugar rates are ₹3500 to 3625/Qntl. whereas M/30 rates are at ₹3625 to 3650/Qntl.
(All the above rates are excluding GST)

Sugar Exports to Afghanistan
Taliban’s takeover of Afghanistan is said to leave an adverse impact on the bilateral trade relations with India. ‘Sugar’ is amongst the top affected products imported by Afghanistan. Click here to read more on the impact of sugar exports through India.

International Market:
Yesterday’s Closing:
On Thursday sugar prices closed lower on weakness in crude oil prices and Brazilian Real. London White Sugar closed at $495.50/ton down $10whereas New York Sugar closed at 19.79 cents per pound, down 0.38 points.

Market Today :
The London White Sugar front month contract is trading at $489.80/tn whereas the New York Sugar front month contract is trading at 19.79/lb.

“Sugar & Ethanol Overview” in conversation with Mr. Eduardo Leao de Sous, Executive Director – UNICA
In a recent conversation with ChiniMandi News, Mr. Eduardo Leão de Sous, Executive Director of UNICA shared his views on Brazilian crop, view on the global scenario and India’s way forward towards ethanol. To read more click here

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.381 whereas USD was trading with BRL at 5.4643 Crude futures traded at Rs.4696, Crude WTI traded at $62.88 a barrel. Sensex closed 300 points lower at 55,329.32 whereas Nifty ended 118.35 points lower at 16,450.50.

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