Daily Sugar Market Update By Vizzie – 23/03/2020

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ChiniMandi, Mumbai: Monday 23rd March 2020
Domestic Market: With the growing fears of coronavirus nationwide that has led to lockdown in almost all the states has affected trades and made the entire market stuck at a position. Mills are left in a worrisome condition of piling sugar stocks and cane dues.
Maharashtra: S/30 Sugar rates are Rs.3050 to Rs.3140/Qntl.
South Karnataka: S/30 rates are Rs.3250 to Rs. 3275 whereas M/30 rates are Rs.3270/Qntl.
Uttar Pradesh: The rates for M/30 rates are Rs.3180 to Rs.3260/Qntl.
Gujarat: The rates for M/30 are 3270 to 3300/Qntl.
Kolkata: The rates for S/30 are Rs.3470 to Rs.3480 whereas M/30 trades rates are Rs.3510 to Rs.3530/Qntl.
Tamil Nadu: S/30 Sugar rates are Rs.3260 to Rs.3350 whereas M/30 rates are Rs.3325 to Rs.3340/Qntl.
*All the domestic rates except Kolkata are excluding GST

International Market:
The market has taken a slow pace with the widespread coronavirus around the world.
London White Sugar front month contract is trading at $341.10/tn whereas US Sugar front month contract is trading at 10.92/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 76.323 whereas USD traded with BRL at 5.0276, Crude futures traded at Rs.1822, Crude WTI traded at $22.89. Indian Indices witnessed its worst ever crash and ended in the red, sensex closed 3934.72 points lower at 25,981.24 whereas Nifty ended 1135.20 points lower at 7610.25

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