Daily Sugar Market Update By Vizzie – 25/03/2021

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ChiniMandi, Mumbai: Thursday 25th March 2021
Domestic Market:
The market witnessed moderate demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3215 to 3175. In the resale market S/30 is trading at ₹3000 to ₹3050 whereas M/30 is trading at ₹3050 to ₹3115
South Karnataka: S/30 rates are ₹3120 to 3150 whereas M/30 is ₹3140 to 3200.
Uttar Pradesh: The rates for M/30 are ₹3190 to 3220
Gujarat: The rates for old S/30 and ₹M/30 at 3101 to 3111 whereas new M/30 ₹3121 to 3141.
Tamil Nadu: S/30 Sugar rates are ₹3150 to 3250 whereas M/30 rates are at ₹3225 to 3275
(All the above rates are excluding GST)

International Market:
On Wednesday sugar prices closed moderately higher after a +5% jump in crude oil prices sparked short-covering in sugar futures. At the time of writing this update London White Sugar front month contract is trading at $441/tn, whereas New York Sugar front month contract is trading at 15.18/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27250 to ₹27350 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.
Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 72.682 whereas USD was trading with BRL at 5.6755 Crude futures traded at Rs.4332, Crude WTI traded at $59.29 a barrel. Sensex closed 740.19 points lower at 48440.12 whereas Nifty ended 224.50 points lower at 14,324.90.

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