ChiniMandi, Mumbai: Friday 23rd April 2021
The market witnessed scanty demand with the state restrictions due to the surge of Covid-19 cases. According to marketmen logistics is also becoming a worrisome issue leaving liftings & deliveries delayed.
In Maharashtra: S/30 Sugar rates from millers are ₹3110 to ₹3140/Qntl. whereas M/30 ₹3220. In the resale market S/30 is trading at ₹3040 to ₹3080 whereas M/30 is trading at ₹3060 to ₹3120.
South Karnataka: S/30 rates are ₹3290 to 3400 whereas M/30 is ₹3370 to 3425
Uttar Pradesh: The rates for M/30 are ₹3450 to 3480
Gujarat: The rates new S/30 at ₹3191 whereas new M/30 ₹3261
Tamil Nadu: S/30 Sugar rates are ₹3290 to 3400 whereas M/30 rates are at ₹3370 to 3425.
(All the above rates are excluding GST)
International Market: On Thursday sugar prices fell back from new 2-month highs and posted modest losses. Sugar prices gave up an early advance and turned lower after crude oil prices fell to a 1-week low, which undercut ethanol prices and weighed on sugar. At the time of writing this update London White Sugar front month contract is trading at $462/tn, whereas New York Sugar front month contract is trading at 16.95/lb.
In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27500 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.
Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.933 whereas USD was trading with BRL at 5.5491 Crude futures traded at Rs.4630, Crude WTI traded at $61.62 a barrel. Sensex closed 202.22 points lower at 47,787.45 whereas Nifty ended 64.80 points lower at 14341.35.