Daily Sugar Market Update By Vizzie – 21/07/2020

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ChiniMandi, Mumbai: Tuesday 21st July 2020
Domestic Market: The market was stable.
Maharashtra: S/30 Sugar rates from millers are ₹3180 to ₹3240/Qntl whereas M/30 ₹3280 to ₹3350.
South Karnataka: The rates for S/30 are ₹3370 to ₹3400 and M/30 are ₹3450.
Uttar Pradesh: The rates for M/30 are ₹3290 to 3350/Qntl.
Gujarat: The rates for New S/30 are ₹3311 whereas M/30 are at ₹3331 to 3341/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3385 to ₹3475 whereas, M/30 rates are ₹3450 to ₹3475.
(All the above rates are excluding GST)

International Market:
According to reports, on Monday demand concerns weighed on sugar prices. Sugar prices recovered most of their losses after crude oil rebounded from early losses and moved higher. London White Sugar front month contract is trading at $352.90/tn, whereas US Sugar front month contract is trading at 11.81/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.605 whereas USD traded with BRL at 5.3291, Crude futures traded at Rs.3147, Crude WTI traded at $42.09. Indices ended in the green, sensex closed 511.34 points higher at 37930.33. Similarly, Nifty ended 140.05 points higher at 11.162.25

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