Daily Sugar Market Update By Vizzie – 21/10/2020

ChiniMandi, Mumbai: Wednesday 21st October 2020
Domestic Market: The market held a mixed trend nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3125 to ₹3150/Qntl whereas M/30 ₹3240 to 3270.
South Karnataka: S/30 Sugar rates are ₹3150 to 3225 whereas, M/30 rates are ₹3275.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3350 whereas, M/30 rates are 3325 to 3400.
(All the above rates are excluding GST)

International Market: According to reports on Tuesday, sugar prices fell back on profit taking after Indian Sugar Mills Association (ISMA) raised its India 2020-2021 sugar production estimate by 0.5 MMT from 30.5 MMT.

London White Sugar front month contract is trading at $390.50/tn, whereas New York Sugar front month contract is trading at 14.35/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.738 whereas USD was trading with BRL at 5.6057 Crude futures traded at Rs.3030, Crude WTI traded at $41.02 a barrel. Indian Indices ended in the green. Sensex closed 162.94 points higher at 40,707.31 whereas Nifty ended 40.85 points higher at 11,937.65.

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