Daily Sugar Market Update By Vizzie – 22/09/2020

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ChiniMandi, Mumbai: Tuesday 22nd September 2020

Domestic Market: The market witnessed stability nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3170/Qntl whereas M/30 ₹3240 to 3260

South Karnataka: S/30 Sugar rates are ₹3290 to 3335 whereas, M/30 rates are ₹3325.

Uttar Pradesh: The rates for M/30 are ₹3360 to 3400/Qntl.

Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3390 to 3450 whereas, M/30 rates are ₹3450 to 3500.

(All the above rates are excluding GST)

International Market: According to reports, on Monday sugar prices were under pressure throughout the day owing to a slump in crude prices and on weakness in the Brazilian real.

London White Sugar front month contract is trading at $369.80/tn, whereas New York Sugar front month contract is trading at 12.73/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.472 whereas USD was trading with BRL at 5.44140, Crude futures traded at Rs.2934, Crude WTI traded at $39.85 a barrel. Indian Indices ended in the red. Sensex closed300.06 points lower at 37,734.08 whereas Nifty ended 96.90 points lower at 11,153.65.

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