Daily Sugar Market Update By Vizzie – 24/06/2020

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ChiniMandi, Mumbai: Wednesday 24th June 2020
Domestic Market: The market was steady nationwide.
Maharashtra: S/30 Sugar rates from millers are ₹3170 to ₹3200/Qntl whereas ₹3210 to 3230
South Karnataka: The rates for S/30 are ₹3425/Qntl whereas for M/30 are at ₹3475/Qntl
Uttar Pradesh: The rates for M/30 are ₹3380 to ₹3440/Qntl.
Gujarat: The rates for New S/30 are ₹3281 to 3301 whereas M/30 are at ₹3291 to 3331/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3390 to Rs.3550 whereas, M/30 rates are ₹3460 to 3525.
(All the above rates are excluding GST)

International Market:
According to reports, on Tuesday sugar prices fell back with NY sugar at a 1-week low and London sugar at a 3-week low owing to fund selling on the outlook for ample global sugar supplies. Sugar prices recovered from their worst levels Tuesday on a rally in crude oil and strength in the Brazilian real.

London White Sugar front month contract is trading at $356.90/tn, whereas US Sugar front month contract is trading at 11.77lb at the time of writing this update.

Currency, Commodity & Indian Indices:The rupee traded against the US dollar at 75.625 whereas USD traded with BRL at 5.1871, Crude futures traded at Rs.3003, Crude WTI traded at $39.59. Indices ended in the red, sensex closed 561.45 points lower at 34,868.98. Similarly, Nifty ended 165.70 points lower at 10,305.30.

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