Daily Sugar Market Update By Vizzie – 23/07/2020

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Domestic Market: The market was stable.

Maharashtra: S/30 Sugar rates from millers are ₹3180 to ₹3240/Qntl whereas M/30 ₹3280 to 3350

South Karnataka: The rates for S/30 are ₹3350 to 3400 and M/30 are ₹3450

Uttar Pradesh: The rates for M/30 are ₹3290 to 3350/Qntl.

Gujarat: The rates for New S/30 are ₹3311 whereas M/30 are at ₹3331 to 3341/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3385 to 3475 whereas, M/30 rates are ₹3450 to 3475.

(All the above rates are excluding GST)

International Market:
According to reports, on Wednesday sugar posted moderate gains on strength in the Brazilian real, which rallied by +1.32% to a 5-week high against the dollar. The stronger real discourages export selling by Brazil’s sugar producers.
London White Sugar front month contract is trading at $358.60/tn, whereas US Sugar front month contract is trading at 11.78/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.783 whereas USD traded with BRL at 5.1196, Crude futures traded at Rs.3142, Crude WTI traded at $41.93. Indices ended in the green, sensex closed 268.95 points higher at 38,140.47. Similarly, Nifty ended 82.85 points higher at 11.215.45.

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