Daily Sugar Market Update By Vizzie – 25/02/2021

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ChiniMandi, Mumbai: Thursday 25th February 2021

Domestic Market:
The market was steady
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3210 to 3250. In the resale market S/30 is trading at ₹3010 to ₹3065 whereas M/30 is trading at ₹3060 to ₹3200.
South Karnataka: The rates for S/30 at ₹3110 to 3125 whereas, M/30 rates are ₹3120 to 3175
Uttar Pradesh: The rates for M/30 are ₹3210 to 3220
In Gujarat: The rates for old S/30 and M/30 3101-3111 and new M/30 are prevailing at ₹3121 to 3141
Tamil Nadu: S/30 Sugar rates are ₹3175 to 3225 whereas, M/30 rates are 3225 to 3250.
(All the above rates are excluding GST)

International Market:
On Wednesday sugar prices closed moderately high with support from a rally in crude oil. Concern about smaller global sugar supplies has fueled fund buying of sugar futures.
At the time of writing this update London White Sugar front month contract is trading at $481.10/tn, whereas New York Sugar front month contract is trading at 18.17/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹26850 to ₹27000 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹26850 to ₹27000 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 72.531 whereas USD was trading with BRL at 5.4331 Crude futures traded at Rs.4614, Crude WTI traded at $63.44 a barrel. Sensex closed 257.62 points higher at 51,039.31 whereas Nifty ended 115.35 points higher at 15,097.35.

To Listen Sugar Market Update on 25th February 2021 News click on the play button.

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