Daily Sugar Market Update By Vizzie – 21/09/2020

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ChiniMandi, Mumbai: Monday 21th September 2020
Domestic Market: The market witnessed no major movement.
In Maharashtra: S/30 Sugar rates from millers are ₹3170/Qntl whereas M/30 ₹3240 to 3260.
South Karnataka: S/30 Sugar rates are ₹3290 to 3335 whereas, M/30 rates are ₹3325.
Uttar Pradesh: The rates for M/30 are ₹3360 to 3400/Qntl.
Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3390 to 3450 whereas, M/30 rates are ₹3450 to 3500.
(All the above rates are excluding GST)

International Market: According to reports, on Friday sugar prices continued its rally for the fourth straight day with New York sugar at a 2-1/2 week high and London sugar at a 3-week high. An early rally in crude oil supported gains in sugar.

London White Sugar front month contract is trading at $370.20/tn, whereas New York Sugar front month contract is trading at 12.79/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.630 whereas USD was trading with BRL at 5.4844, Crude futures traded at Rs.2934, Crude WTI traded at $40.24 a barrel. Indian Indices ended in the red. Sensex closed 811.68 points lower at 38,034.14 whereas Nifty ended 254.40 points lower at 11,250.55.

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