Daily Sugar Market Update By Vizzie – 22/10/2020

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ChiniMandi, Mumbai: Thursday 22nd October 2020

Domestic Market: The market held a mixed trend nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3125 to ₹3150/Qntl whereas M/30 ₹3240 to 3270.

South Karnataka:  S/30 Sugar rates are ₹3150 to 3225 whereas, M/30 rates are ₹3275.

Uttar Pradesh: The rates for M/30 are ₹3250  to 3260/Qntl.

Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3250 to 3350 whereas, M/30 rates are 3325 to 3400.

(All the above rates are excluding GST)

International Market:
According to reports on Wednesday, sugar prices posted moderate losses after being weighed down by a slump in crude prices which fell by more than -4%.

London White Sugar front month contract is trading at $400.80/tn, whereas New York Sugar front month contract is trading at 14.68/lb at the time of writing this update.

Currency, Commodity & Indian Indices:

The rupee traded against the US dollar at 73.690 whereas USD was trading with BRL at 5.6092 Crude futures traded at Rs.2978, Crude WTI traded at $40.34 a barrel.  Indian Indices ended in the red. Sensex closed 148.82 points lower at 40,558.49 whereas Nifty ended 41.20 points higher at 11,896.45.

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