Daily Sugar Market Update By Vizzie – 21/08/2020

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ChiniMandi, Mumbai: Friday 21st August 2020
Domestic Market:The market witnessed scanty demand nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3170/Qntl whereas M/30 ₹3240 to 3270
South Karnataka: S/30 Sugar rates are ₹3350 to 3425 whereas, M/30 rates are ₹3420 to 3450.
Uttar Pradesh: The rates for M/30 are ₹3310 to 3345/Qntl.
Gujarat: The rates for New S/30 are ₹3251 to 3255 whereas M/30 are at ₹3281 to 3291/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3375 to 3475 whereas, M/30 rates are ₹3450 to 3525.
(All the above rates are excluding GST)

International Market: According to reports, on Thursday sugar prices closed sharply lower on a bearish Conab report, lower oil prices, and a sharp -1% sell-off in the Brazilian real. White sugar of the season 2019/20 icumsa 100 ready delivery is trading at ₹24600 to ₹24800 on ex factory basis. The FOB indication For white sugar icumsa 100 Season 2019/20 is $371 to $373. London White Sugar front month contract is trading at $374.90/tn, whereas New York Sugar front month contract is trading at 12.99/lb at the time of writing this update.

Currency, Commodity & Indian Indices:The rupee traded against the US dollar at 74.905 whereas USD is trading with BRL at 5.5856, Crude futures traded at Rs.3,172, Crude WTI traded at $42.24. Indian Indices ended in the green. Sensex closed 214.33 points higher at 38,434.72 whereas Nifty ended 59.40 points higher at 11,371.60

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