Daily Sugar Market Update By Vizzie – 22/02/2021

ChiniMandi, Mumbai: Monday 22nd February 2021

Domestic Market:
The market witnessed scanty demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3210 to 3250. In the resale market S/30 is trading at ₹3010 to ₹3065 whereas M/30 is trading at ₹3060 to ₹3200.
South Karnataka: The rates for S/30 at ₹3110 to 3125 whereas, M/30 rates are ₹3120 to 3175
Uttar Pradesh: The rates for M/30 are ₹3210 to 3220
In Gujarat: The rates for old S/30 and M/30 3111 an d new M/30 are prevailing at ₹3131 to 3141
Tamil Nadu: S/30 Sugar rates are ₹3175 to 3225 whereas, M/30 rates are 3225 to 3250.
(All the above rates are excluding GST)

International Market:
On Friday, sugar prices extended the week’s rally on concern about smaller global supplies continuing to fuel fund buying of sugar futures.

At the time of writing this update London White Sugar front month contract is trading at $478.60/tn, whereas New York Sugar front month contract is trading at 17.82/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at Rs.26000 to Rs.26100 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at Rs.25900 to Rs.26000 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 72.468 whereas USD was trading with BRL at 5.5141 Crude futures traded at Rs.1313, Crude WTI traded at $59.84 a barrel. Sensex closed 1145.44 points lower at 49,744.32 whereas Nifty ended 306.05 points lower at 14,675.70.

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