Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Tuesday 21st May 2019

Domestic: The market witnessed moderate demand nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, the rates are Rs.3050 to 3090. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3300. In resale, the market rates are Rs.3220 to 3270. In Gujarat, S/30 is trading at Rs.3120 to 3160. In Tamil Nadu, Mill trades are taking place at Rs.3300 to Rs.3360 excluding GST.

International: The market is steady. London White Sugar is trading at $321.70 whereas US Sugar is trading at $11.55.

The FOB indication for raw sugar was at $320-$322 and Indian White Sugar at $335-$337.

The demand of Raw Sugar range was ₹20000-20200/mt and White Sugar ₹21300-₹21500/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.72 meanwhile USD traded with BRL at 4.096, Crude Futures traded at ₹4447, Crude WTI is trading at $63.56

Indices: The benchmark index BSE slipped by 382.87 points to settle at 38,969.80 on profit booking by local operators at higher level. The NSE Nifty eased by 119.15 points at 11,709.10.

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