Daily Sugar Market Update By ‘Vizzie’

 

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ChiniMandi, Mumbai -Monday 11th March 2019

Domestic:  The market witnessed the beginning of the week sluggish. In Maharashtra, Mills are opening trades at ₹3100 with negligible sales whereas, in resell, S/30 is trading at ₹2980 to ₹3020. In Uttar Pradesh, Ex-mill trades are taking place from ₹3100 to ₹3120. In resell, M/30 sugar is trading at  ₹3065 to ₹3110. In Gujarat, S/30 is trading at ₹3100 to 3120. In Tamil Nadu, Mill trades are taking place at ₹3150 to ₹3230 exclusive GST.

 

  • International: The market is flat. London White Sugar is trading at $339.20 whereas US Sugar is trading at $12.73.

 

The FOB indication for raw sugar was at $303-$305 and Indian White Sugar at $313-$316.

 

The demand of Raw Sugar range was ₹19300-19400/mt and White Sugar ₹19600-₹19800/MT on Ex.factory basis.

 

  • Currency & Commodity: The rupee was trading against the US dollar at 69.904 meanwhile USD traded with BRL at 3.850, Crude Futures traded at ₹3958, WTI $556.53.

 

  • Looking at indices, the BSE benchmark Sensex soared 383 points to reclaim the 37,000 mark posting its biggest gain in nearly six months amid sustained foreign fund inflow and positive global cues. According to experts, investors widened their portfolios amid hopes of a win for the incumbent NDA government, following the announcement of 2019 general election dates Sunday. The 30-share Sensex started off on a strong footing and reclaimed the 37,000 mark on widespread buying by investors, and ended at 37,054.10, up by 382.67 points. This is the highest closing level since September last year. The NSE Nifty, after climbing to 11,172.40 – its highest since September last year – closed at 11,168.05 points, up 132.65 points.

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