Daily Sugar Market Update By ‘Vizzie’ – 22/07/2019

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ChiniMandi, Mumbai – Monday 22nd July 2019

Indian: The sugar market witnessed moderate demand. In Maharashtra, mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3040 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3180 to 3310. In resale, the rates are Rs.3210 to 3335. In Gujarat, S/30 is trading at Rs.3120 to 3170. In Tamil Nadu, Mill trades are taking place at Rs.3175 to Rs.3200 excluding GST.

International: The sugar market was stable. London White Sugar price is trading at $316.30 whereas US Sugar price is trading at $11.63.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.

The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.90  meanwhile USD traded with BRL at 3.741, Crude Futures traded at ₹3888, Crude WTI is traded at $56.30.  The benchmark equity indices started the week on a gloomy note and ended lower led by losses in the financial services and global cues. Sensex closed on 22nd July 2019 at 38,031.13 tanking 305.88 points, while the broader Nifty lost 82.10 points settling at 11,337.15.

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