Daily Sugar Market Update By Vizzie – 22/01/2020

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ChiniMandi, Mumbai: Wednesday 22nd January 2020

Domestic: The market witnessed moderate demand nationwide.
Maharashtra: S/30 Sugar trades are taking place at Rs. 3160 to Rs.3180/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3230 to Rs. 3265 whereas M/30 trades are taking place at Rs.3290 to Rs.3315.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3275 to Rs.3395.
Gujarat: S/30 Sugar is trading at Rs.3260 to Rs.3270 and M/30 at Rs.3340 to Rs.3360.
Kolkata: The trades for S/30 are taking place at Rs.3485 to Rs.3540 whereas M/30 trades are taking place at Rs.3610 to Rs.3640
Tamil Nadu: S/30 Sugar is trading at Rs. 3310 to Rs.3380 whereas M/30 is trading at Rs.3360
*All the domestic rates except Kolkata are excluding GST.

International Market: Good demand was witnessed. White sugar of season 2018/19 icumsa 150 ready delivery traded at Rs.23000 to Rs. 23200 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.23300 to Rs.23500 ex. factory basis. The FOB indication for white sugar icumsa 150 season 2018/19 is $365 to $367. For white sugar icumsa 100 Season 2019/20 the FOB indication is $368 to $370. London White Sugar front month contract is trading at $407.10/tn whereas US Sugar front month contract is trading at 14.75/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 71.130, meanwhile USD traded with BRL at 4.1905, Crude Futures traded at Rs. 4136, Crude WTI traded at $57.84. Sensex ended today at 208.43 points lower at 41115.38. Similarly, Nifty ended 62.95 points down at 12106.90.

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