Daily Sugar Market Update By ‘Vizzie’


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ChiniMandi, Mumbai – Thursday, 7th March 2019

Domestic: The announcement of heavy quota for the current month has led to prices getting more depressed. The market has been witnessing a dullness for the fourth straight day of the week. In Maharashtra, Mills are opening trades at ₹3100 with negligible sales whereas, in resell, S/30 is trading at ₹2990 to ₹3030. In Uttar Pradesh, refined sugar prices were reduced by ₹20. Ex-mill trades are taking place from ₹3100 to ₹3130. In resell, M/30 sugar is trading at ₹3090 to ₹3120. In Gujarat, S/30 is trading at ₹3100 to 3120. In Chennai, S/30 is trading at ₹3460 to ₹3480 inclusive GST.

• International: The market is flat. London White Sugar is trading at $332.00 whereas US Sugar is trading at $12.73.
The FOB indication for raw sugar was at $303-$305 and Indian White Sugar at $313-$316.
The demand of Raw Sugar range was ₹19300-19400/mt and White Sugar ₹19600-₹19800/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 70.15 meanwhile USD traded with BRL at 3.839, Crude Futures traded at ₹3979, WTI $56.76.

• Looking at indices, the BSE benchmark Sensex climbed almost 90 points to close at 36,725.42 in choppy trade amid a strengthening rupee and sustained foreign fund inflows. Similarly, the NSE Nifty edged higher by over 5 points to close at 11,058.20.

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