Daily Sugar Market Update By Vizzie – 23/06/2021

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ChiniMandi, Mumbai: Wednesday, 23rd June 2021

Domestic Market:
Market Scenario:
The market witnessed moderate demand.

State wise Prices as on June 22, 2021:
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170.
In the resale market S/30 is trading at ₹3020 to ₹3050 whereas M/30 is trading at ₹3050 to ₹3110.
– Karnataka : S/30 Sugar rates from millers are ₹3215 whereas M/30 is at ₹3265.
– Uttar Pradesh: The rates for M/30 are ₹3200 to 3230
– Gujarat: S/30 Sugar rates are ₹3110 to 3121 whereas M/30 rates are at ₹3161 to 3171
– Tamil Nadu: S/30 Sugar rates are ₹3220 to 3300 whereas M/30 rates are at ₹3310 to 3325
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:
On Tuesday sugar prices closed lower on weather conditions concerns in Brazil. London white sugar closed at $418.70/ton down $7.00 whereas raw sugar on the New York Stock Exchange closed at 16.43 cents per pound down by 0.35 points.

Market Today :
London White Sugar front month contract is trading at $423/tn whereas New York Sugar front month contract is trading at 16.66/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28400 to ₹28500 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.181 whereas USD was trading with BRL at 4.9527 Crude futures traded at Rs.5469, Crude WTI traded at $73.56 a barrel. Sensex closed 282.63 points lower at 52,306.08 whereas Nifty ended 85.80 points lower at 15,686.95.

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