Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Wednesday 22nd May 2019

Domestic: The market was stable nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, the rates are Rs.3050 to 3090. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3300. In resale, the market rates are Rs.3220 to 3270. In Gujarat, S/30 is trading at Rs.3120 to 3160. In Tamil Nadu, Mill trades are taking place at Rs.3300 to Rs.3360 excluding GST.

International: The market is steady. London White Sugar is trading at $329.10 whereas US Sugar is trading at $11.93

The FOB indication for raw sugar was at $320-$322 and Indian White Sugar at $335-$337.

The demand of Raw Sugar range was ₹20000-20200/mt and White Sugar ₹21300-₹21500/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.68 meanwhile USD traded with BRL at 4.039, Crude Futures traded at ₹4373, Crude WTI is trading at $62.59.

Indices: BSE bounced back on Wednesday by 140.41 points to reclaim the 39000-level and end firmly at 39,110.21 on renewed buying in Industrials, Bankex, Realty, Capital Goods and Finance stocks on expectations that the BJP-led NDA would possibly return to power on Thursday, when the results of the 2019 Lok Sabha election will be declared.Nifty increased by 28.80 points to close at 11,737.90.

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