Daily Sugar Market Update By ‘Vizzie’ – 24/04/2019

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ChiniMandi, Mumbai – Wednesday 24th April 2019

• Domestic: In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3130/Qntl, whereas in Resell, the rates are Rs.3025 to 3050. 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. In Tamil Nadu, Mill trades are taking place at Rs.3225 to Rs.3300 excluding GST.

• International: No major movement was witnessed in the market. London White Sugar is trading at $337.60 whereas US Sugar is trading at $12.58.

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 65.93 meanwhile USD traded with BRL at 3.921, Crude Futures traded at ₹4622, WTI $65.93

• Indices: BSE Sensex rallied as investors piled into index heavyweights Reliance Industries, HDFC duo, Infosys, ITC and ICICI Bank. After starting on a positive note, the BSE bourse soared to a high at the fag-end of the session and finally settled 489.80 points higher at 39,054.68. The broader NSE Nifty too climbed 150.20 points to close at 11,726.15.

SOURCEChiniMandi

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