Daily Sugar Market Update By Vizzie – 23/08/2021

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ChiniMandi, Mumbai: Monday 23rd August 2021
Domestic Market:
Latest : Indian sugar scenario by Government of India

Our latest article brings to you details on the Indian sugar scenario by Government of India
Key Highlights
Overview | Balance Sheet for Sugar Season 2021-22 | Current Exports & Outlook | Diversion of Sugar to Ethanol | Cane Dues | Global Sugar View from Indian Perspective | Incentive from the Government to sugar mills for sugar exports and Diversion of sugar to ethanol
For more details click here

Domestic Market Scenario:
The market witnessed moderate demand. The unresolved transportation issue in Maharashtra kept sentiments weak in Karnataka and Maharashtra.
State wise Prices as on 23rd August 2021 :
◾ Maharashtra: S/30 Sugar rates from millers are ₹3250 to ₹3325/Qntl. whereas M/30 is at ₹3350 to 3450/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3300 to 3340/Qntl. whereas M/30 is at ₹3400 to 3540/Qntl.
◾ Uttar Pradesh: The rate for M/30 is ₹3430 to 3470/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3471 to 3511/Qntl. whereas M/30 rates are at ₹3601 to 3651/Qntl.
◾ Tamil Nadu: S/30 Sugar rates are ₹3480 to 3575/Qntl. whereas M/30 rates are at ₹3550 to 3625 (All the above rates are excluding GST.

International Market:
Yesterday’s Closing:
On Friday sugar prices closed lower on weakness in crude oil prices and Brazilian Real. London White Sugar closed at $483.50/ton down $11 whereas New York Sugar closed at 19.58 cents per pound, down 0.21 points

Market Today :
The London White Sugar front month contract is trading at $478.60/tn whereas the New York Sugar front month contract is trading at 19.58/lb.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.132 whereas USD was trading with BRL at 5.3637 Crude futures traded at Rs.4804, Crude WTI traded at $64.62 a barrel. Sensex closed 226.47 points higher at 55,555.79 whereas Nifty ended 45.95 points higher at 16,496.45.

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