Daily Sugar Market Update By Vizzie – 23/01/2020

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ChiniMandi, Mumbai: Thursday, 23rd January 2020
Domestic: The market witnessed moderate demand nationwide.
Maharashtra: S/30 Sugar trades are taking place at Rs. 3160 to Rs.3180/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3215 to Rs. 3250 whereas M/30 trades are taking place at Rs.3250 to Rs.3300.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3275 to Rs.3395.
Gujarat: M/30 Sugar is trading at Rs.3280 to Rs.3300.
S-30 isn’t available for much trades due to major stocks traded for exports.
Kolkata: The trades for S/30 are taking place at Rs.3485 to Rs.3540 whereas M/30 trades are taking place at Rs.3610 to Rs.3640
Tamil Nadu: S/30 Sugar is trading at Rs. 3275 to Rs.3350 whereas M/30 is trading at Rs.3325 to Rs.3375
*All the domestic rates except Kolkata are excluding GST.

International Market: Good demand was witnessed. White sugar of season 2018/19 icumsa 150 ready delivery traded at Rs.23000 to Rs. 23200 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.23300 to Rs.23500 ex. factory basis. The FOB indication for white sugar icumsa 150 season 2018/19 is $365 to $367. For white sugar icumsa 100 Season 2019/20 the FOB indication is $368 to $370.London White Sugar front month contract is trading at $401.30/tn whereas US Sugar front month contract is trading at 14.73/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 71.29, meanwhile USD traded with BRL at 4.17, Crude Futures traded at Rs. 3979, Crude WTI traded at $55.72. Indian Indices ended green today. Sensex ended today at 271.02 points higher at 41386.40. Similarly, Nifty ended 73.45 points higher at 12180.35.

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