Daily Sugar Market Update By Vizzie – 20/09/2021

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ChiniMandi, Mumbai: Monday 20th September 2021

Domestic Market:

Market Scenario:
Market witnessed scanty demand nationwide.

State wise prices as on September 20th, 2021 :

◾ Maharashtra:S/30 Sugar rates from millers are ₹3400 to ₹3475/Qntl. whereas M/30 ₹3530 to 3600/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3475 to 3525/Qntl. M/30 is at ₹3575 to 3600/Qntl.
◾ Uttar Pradesh: The rates for M/30 are ₹3700 to 3750/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3401 to 3491/Qntl. whereas M/30 rates are at ₹3551 to 3581.
◾ Tamil Nadu: S/30 Sugar rates are ₹3620 to 3675/Qntl. whereas M/30 rates are at ₹3700 to 3725/Qntl.

(All the above rates are excluding GST

International Market:
Yesterday’s Closing:
On Friday sugar prices closed moderately lower on a weakness in crude prices. Crude prices fell -1%, this mainly undercuts ethanol prices and becomes bearish for sugar.
London White Sugar closed at $504.80/ton down $8.10 whereas New York Sugar closed lower -0.31 points at 19.18 cents per pound.

Market Today :

London White Sugar front month contract is trading at $497.70/tn whereas New York Sugar front month contract is trading at 18.89/lb

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.687 whereas USD was trading with BRL at 5.3341 Crude futures traded at Rs.5162 Crude WTI traded at $69.94 a barrel. Sensex closed 524.96 points lower at 58,490.93 whereas Nifty ended 188.25 points lower at 17,396.90
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