Daily Sugar Market Update By ‘Vizzie’ – 24/06/2019

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ChiniMandi, Mumbai –Monday 24th June 2019

Indian: The week began with quietness owing to the monsoon setting around. Sugar mills in Maharashtra, are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3040 to 3070. In Uttar Pradesh, Mill sales are taking place at Rs.3220 to 3350. In resale, the rates are Rs.3160 to 3250. In Gujarat, S/30 is trading at Rs.3110 to 3170. In Tamil Nadu, Mill trades are taking place at Rs.3235 to Rs.3340 excluding GST.

International: The sugar market was flat. London White Sugar price is trading at $324.40 whereas US Sugar price is trading at $12.24.

The FOB indication for raw sugar was at $336-$338 and Indian White Sugar at $352-$355.

The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.390 meanwhile USD traded with BRL at 3.822, Crude Futures traded at ₹4037, Crude WTI is trading at $57.92.

Indices: BSE’s Sensex closed end of the day at 39,122.96, down by 71.53 points whereas NSE’s Nifty index closed at 11,699.65, down 24.45 points.

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