Daily Sugar Market Update By ‘Vizzie’ – 23/07/2019

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ChiniMandi, Mumbai – Tuesday 23rd July 2019

Indian: The market witnessed moderate demand. In Maharashtra ,mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3040 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3180 to 3310. In resale, the rates are Rs.3210 to 3335. In Gujarat, S/30 is trading at Rs.3110 to 3150. In Tamil Nadu, Mill trades are taking place at Rs.3220 to Rs.3225 excluding GST.

International: The market was stable. London White Sugar is trading at $314.90 whereas US Sugar is trading at $11.63.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.
The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.957  meanwhile USD traded with BRL at 3.741, Crude Futures traded at ₹3900, Crude WTI is traded at $56.25.  Indices slipped as weak corporate earnings, hinting at an economic slowdown, kept investors’ sentiment muted. Sensex settled at 37,983 levels, down 48 points whereas the broader Nifty ended at 11,331 down 15 points.

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