Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Tuesday, 5th March 2019

Domestic: The market did not witness any major movement today. In Maharashtra, Mill trades are taking place at ₹3100 whereas, in resell, S/30 is trading at ₹3000 to ₹3040. In Uttar Pradesh, Ex-mill trades are taking place from ₹3100 to ₹3140. In resell, M/30 sugar is trading at ₹3090 to ₹3140. In Gujarat, S/30 is trading at ₹3100 to 3120. In Chennai, S/30 is trading at ₹3460 to ₹3520 inclusive GST.

• International: The market is flat. London White Sugar is trading at $341.80 whereas US Sugar is trading at $12.73.
The FOB indication for raw sugar was at $303-$305 and Indian White Sugar at $315-$318.
The demand of Raw Sugar range was ₹19300-19400/mt and White Sugar ₹19600-₹19800/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 70.47 meanwhile USD traded with BRL at 3.775, Crude Futures traded at ₹3990, WTI $56.49.

• Market benchmark Sensex surged by nearly 379 points to close at 36,442 on intense buying mainly in auto, financial and energy counters amid easing of geo-political tensions and positive macroeconomic outlook. Similarly, the broader NSE Nifty rose nearly 124 points to settle at 10,987.45 just below the psychological 11,000 level.

 

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