Daily Sugar Market Update By Vizzie – 23/10/2020


ChiniMandi, Mumbai: Friday 23rd October 2020
Domestic Market:
The market held a mixed trend nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3125 to ₹3150/Qntl whereas M/30 ₹3240 to 3270
South Karnataka: S/30 Sugar rates are ₹3150 to 3225 whereas, M/30 rates are
Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3350 whereas, M/30 rates are 3325 to 3400.
(All the above rates are excluding GST)

International Market:
According to reports on a Thursday, sugar prices rallied with New York sugar posting a new high. Sugar prices have been trending on concerns of Brazil’s sugar production.

London White Sugar front month contract is trading at $399.10/tn, whereas New York Sugar front month contract is trading at 14.83/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.640 whereas USD was trading with BRL at 5.5929 Crude futures traded at Rs.3012, Crude WTI traded at $40.83 a barrel. Indian Indices ended in the green. Sensex closed 127.01 points higher at 40,865.50 whereas Nifty ended 33.90 points higher at 11,930.35

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