Daily Sugar Market Update By ‘Vizzie’ – 23/04/2019

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ChiniMandi, Mumbai – Tuesday 23rd April 2019

• Domestic: In Maharashtra and Gujarat, the markets were closed owing to the Loksabha elections. In Uttar Pradesh, Mill sales are taking place at Rs.3180 to 3230. In resale, the market rates are Rs.3170 to 3210. In Tamil Nadu mill trades are taking place Rs.3300 to 3350 excluding GST.

• International: The market is witnessing flatness. London White Sugar is trading at $329.80 whereas US Sugar is trading at $12.64.

The FOB indication for raw sugar was at $308-$310 and Indian White Sugar at $318-$320.
The demand of Raw Sugar range was ₹19200-19400/mt and White Sugar ₹19800-₹20000/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.70 meanwhile USD traded with BRL at 3.932, Crude Futures traded at ₹4595, WTI $65.62

• Indices: Equity benchmarks Sensex and Nifty ended in the negative terrain as financial and auto stocks faced high selling pressure, while the constant rise in crude oil prices reignited macro worries. In a highly volatile session, the BSE Sensex settled 80.30 points lower at 38,564.88. The broader NSE Nifty too slipped 18.50 points to close at 11,575.95.

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