Daily Sugar Market Update By Vizzie – 25/01/2021

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ChiniMandi, Mumbai: Monday 25th January 2021
Domestic Market: The market witnessed moderate demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl. whereas M/30 ₹3180 to 3250. In the resale market S/30 is trading at ₹2930 to ₹3000 whereas M/30 is trading at ₹2985 to ₹3070
South Karnataka: The rates for S/30 at ₹3100 whereas, M/30 rates are ₹3100 to 3150.
Uttar Pradesh: The rates for M/30 are ₹3215
Gujarat: The rates for S/30 are ₹3101 whereas new M/30 are at ₹3111 to 3121/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3100 to 3200 whereas, M/30 rates are 3150 to 3250
(All the above rates are excluding GST)

International Market:
Sugar prices on Friday extended Thursday’s losses down to new 1-week lows. Forecasts for rain in Brazil’s Center-South, the country’s biggest sugar-growing region have been weighing on prices. On Friday March New York world sugar SBH21 closed down -0.18 at 15.87 whereas March London white sugar SWH21 closed down -5.50 at 444.80

At the time of writing this update London White Sugar front month contract is trading at $447.60/tn, whereas New York Sugar front month contract is trading at 15.98/lb.
In the Indian market, White sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at Rs.26300 to Rs.26400 on ex factory basis.
Demand for Raw sugar of season 2020/21 icumsa between 600- 1200 is at Rs.26200 to Rs.26300 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 72.930 whereas USD was trading with BRL at 5.4669 Crude futures traded at Rs.3830, Crude WTI traded at $52.36 a barrel. Sensex closed 530.95 points lower at 48347.59 whereas Nifty ended 133 points lower at 14,238.90.

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