Daily Sugar Market Update By Vizzie – 21/06/2021

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ChiniMandi, Mumbai: Monday 21st June 2021
Domestic Market:

Market Scenario:
The market witnessed a mixed trend throughout the week, some areas witnessed no demand whereas the demand picked in some areas. According to market-men Maharashtra state has witnessed demand picking with the ease in the lockdown. Meanwhile in Gujarat, Tamil Nadu and Karnataka the demand has been flat. Rains in many parts of the state slowed the logistics of traded sugar in the recent days.

State wise Prices as on June 21, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170.
In the resale market S/30 is trading at ₹3030 to ₹3050 whereas M/30 is trading at ₹3050 to ₹3110.
– Karnataka : S/30 Sugar rates from millers are ₹3200 to 3215 whereas M/30 is at ₹3265.
– Uttar Pradesh: The rates for M/30 are ₹3250
– Gujarat:  S/30 Sugar rates are ₹3110 to 3121 whereas M/30 rates are at ₹3161 to 3171
– Tamil Nadu: S/30 Sugar rates are ₹3220 to 3300 whereas M/30 rates are at ₹3290 to 3325
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:
On Friday sugar prices closed lower on higher sugar output in Brazil Center South and India. London white sugar closed at $423.40/ton down $1.60 whereas raw sugar on the New York Stock Exchange closed at 16.43 cents per pound down by 0.12 points.

Market Today:
London White Sugar front month contract is trading at $418.60/tn whereas New York Sugar front month contract is trading at 16.32/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28400 to ₹28500 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.177 whereas USD was trading with BRL at 5.0503 Crude futures traded at Rs.5301, Crude WTI traded at $71.08 a barrel. Sensex closed 230.01 points higher at 52,574.46 whereas Nifty ended 63.15 points higher at 15,746.50.

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