Daily Sugar Market Update By ‘Vizzie’ – 22/08/2019

ChiniMandi, Mumbai – Thursday 22nd August 2019

Indian: The sugar demand was slow nationwide. In Maharashtra, dispatches from Sangli & Kolhapur also continued to be at a halt for the third straight day owing to the unresolved issue of transporters labor payments. Mills are opening their rates at Rs.3110 to Rs.3150/Qntl, whereas in Resell, prices are Rs.3100 to 3150. In Uttar Pradesh, Mill sales are taking place at Rs.3340 to 3380. In resale, the rates are Rs.3320 to 3360. In Gujarat, S/30 is trading at Rs.3210 to 3340. In Tamil Nadu, Mill trades are taking place at Rs.3425 to Rs.3500 excluding GST.

International: There were no major movements. London White Sugar price is trading at $309.30 whereas US Sugar price is trading at $11.47. The FOB indication for raw sugar was at $325-$330 and Indian White Sugar at $340-$345. The demand of Raw Sugar range was ₹20200-20500/mt and White Sugar ₹21500-₹21800/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 71.815 meanwhile USD traded with BRL at 4.0346, Crude Futures traded at ₹4043, Crude WTI traded at $56.15. At Sensex close, it was down 587.44 points at 36,472.93,
while Nifty was down 177.30 points at 10,741.40.

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