Daily Sugar Market Update By Vizzie – 24/11/2020


ChiniMandi, Mumbai: Tuesday 24th November 2020

Domestic Market:  Good demand has been witnessed across sugar markets nationwide based on the rumours that Minimum Selling Price (MSP) of sugar is likely to be hiked this week.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl whereas M/30 ₹3250 to 3270
South Karnataka: S/30 Sugar rates are ₹3170 to 3210 whereas, M/30 rates are ₹3205 to 3260.
Uttar Pradesh: The rates for M/30 are ₹3300 to 3350/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3350 whereas, M/30 rates are 3300 to 3375.
(All the above rates are excluding GST)

International Market: On Monday, sugar prices closed lower after initially opening higher on continued dry conditions in Brazil, however, gave up its gains and turned lower on weakness in the Brazilian real, which fell -0.91% to a 1-week low against the dollar. March New York world sugar #11 (SBH21) closed down -0.06 at 15.15. March London white sugar #5 (SWH21) closed down -1.80 at $411.50.

London White Sugar front month contract is trading at $407/tn, whereas New York Sugar front month contract is trading at 14.95/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.049 whereas USD was trading with BRL at 5.4187 Crude futures traded at Rs.3225, Crude WTI traded at $44.46 a barrel. Indian Indices ended in the green, Sensex closed 445.87 points higher at 44,523.02 whereas Nifty ended 128.70 points higher at 13,055.15.

To Listen to this News click on the play button.


Please enter your comment!
Please enter your name here