Daily Sugar Market Update By ‘Vizzie’ – 21/06/2019

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ChiniMandi, Mumbai – Friday 21st June 2019

Indian: The week came to an end with a bearish trend nationwide. Sugar mills in Maharashtra, are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3040 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3320. In resale, the rates are Rs.3250 to 3290. In Gujarat, S/30 is trading at Rs.3140 to 3200. In Tamil Nadu, Mill trades are taking place at Rs.3235 to Rs.3350 excluding GST.

International: No major movement was witnessed. London White Sugar price is trading at $328.30 whereas US Sugar price is trading at $12.39.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.

The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.623 meanwhile USD traded with BRL at 3.827, Crude Futures traded at ₹4008, Crude WTI is trading at $57.31.

Indices: The Indian indices wiped out most of its previous session gains and ended on a weak note while Nifty finished below 11,750 level. Sensex close down 407.14 points at 39,194.49 and Nifty was down 107.70 points at 11,724.10.

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