Daily Sugar Market Update By Vizzie – 22/01/2021

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ChiniMandi, Mumbai: Friday 22nd January 2021
Domestic Market: The market witnessed good demand on basis of upcoming bank holidays.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl. whereas M/30 ₹3180 to 3250. In the resale market S/30 is trading at ₹2930 to ₹3000 whereas M/30 is trading at ₹2985 to ₹3070
South Karnataka: The rates for S/30 at ₹3090 to 3100 whereas, M/30 rates are ₹3100 to 3150. Uttar Pradesh: The rates for M/30 are ₹3215
Gujarat: The rates for S/30 are ₹3101 whereas new M/30 are at ₹3111 to 3121/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3140 to 3225 whereas, M/30 rates are 3200 to 3275.
(All the above rates are excluding GST)

International Market: Today sugar prices fell to a week’s low. A weakness in the Brazilian real against the dollar today sparked long liquidation in sugar futures. At the time of writing this update London White Sugar front month contract is trading at $444.50/tn, whereas New York Sugar front month contract is trading at 15.81/lb.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 72.982 whereas USD was trading with BRL at 5.3511 Crude futures traded at Rs.3796, Crude WTI traded at $51.88 a barrel. Sensex closed 746.22 points lower at 48,878.54 whereas Nifty ended 218.45 points lower at 14,371.90.

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