Daily Sugar Market Update By ‘Vizzie’ – 21/03/2019


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ChiniMandi, Mumbai – Thursday 21st March 2019

• Domestic: With the ongoing Holi festival and continuous quietness prevailing in the market due to the heavy announced quota of the current month, the market witnessed bearish trend nationwide. In Maharashtra, the mills are opening trades at ₹3100, however, there has been no sales, whereas, in resell, S/30 is trading at ₹2935 to ₹2980. In Uttar Pradesh, there was no sale, no lifting due the festival holiday. In Gujarat, S/30 is trading at ₹3100. In Tamil Nadu, Mill trades are taking place at ₹3150 to ₹3200 excluding GST.

• International: The market was flat. London White Sugar is trading at $336.00 whereas US Sugar is trading at $12.54.
The FOB indication for raw sugar was at $307-$310 and Indian White Sugar at $318-$321.

The demand of Raw Sugar range was ₹19000-19200/mt and White Sugar ₹19600-₹19800/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 68.750 meanwhile USD traded with BRL at 3.7701, Crude Futures traded at ₹4148, WTI $60.16.

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