Daily Sugar Market Update By Vizzie – 24/02/2020

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ChiniMandi, Mumbai: Monday 24th February 2020
Domestic Market: The market witnessed moderate demand nationwide.
Maharashtra: S/30 Sugar trades are taking place at Rs.3100 to Rs.3150/Qntl.
South Karnataka: S/30 trades are taking place at Rs.3190 to Rs. 3235 whereas M/30 trades are taking place at Rs.3230 to 3285.
Uttar Pradesh: The market trades are taking place at Rs. 3320 to Rs. 3350.
Gujarat: M/30 trades are taking place at Rs.3210. to Rs. 3250
Kolkata: The trades for S/30 are taking place at Rs.3540 to Rs.3560 whereas M/30 trades are taking place at Rs.3600 to Rs.3610.
Tamil Nadu: S/30 Sugar is trading at Rs. 3245to Rs.3340 whereas M/30 is trading at Rs.3300 to 3375.
*All the domestic rates except Kolkata are excluding GST

International Market: No major movement was witnessed in the market. White sugar of season 2018/19 icumsa 150 ready delivery is trading at Rs.23900 to Rs. 24000 on ex factory basis. Demand for white sugar of season 2019/20 icumsa below 100 is at Rs.24200 to Rs.24300 ex. factory basis. The FOB indication for white sugar icumsa 150 season 2018/19 is $375 to $376. For white sugar icumsa 100 Season 2019/20 the FOB indication is $382 to $384.

London White Sugar front month contract is trading at $417.20/tn whereas US Sugar front month contract is trading at 15.53/lb at the time of writing this update.

Currency, Commodity & Indian Indices: USD traded with BRL at 4.3884, Crude Futures traded at Rs.3713, Crude WTI traded at $51.40. Indian Indices ended in the green today. Sensex ended 806.89 points lower at 40363.23. Similarly, Nifty ended 251.45 points lower at 11829.40

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