Daily Sugar Market Update By ‘Vizzie’ – 25/06/2019

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ChiniMandi, Mumbai –Tuesday 25th June 2019

Indian: The sugar market continued to witness a bearish trend, Sugar mills in Maharashtra, are opening their sugar rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell sugar prices are Rs.3040 to 3070. In Uttar Pradesh, Mill sales are taking place at Rs.3220 to 3350. In resale, the rates are Rs.3160 to 3250. In Gujarat, S/30 is trading at Rs.3110 to 3170. In Tamil Nadu, Mill trades are taking place at Rs.3235 to Rs.3340 excluding GST.

International: The sugar market was flat. London White Sugar price is trading at $322.70 whereas US Sugar price is trading at $12.33.
The FOB indication for raw sugar price was at $336-$338 and Indian White Sugar at $352-$355.

The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.351 meanwhile USD traded with BRL at 3.8272, Crude Futures traded at ₹4007, Crude WTI is trading at $57.52.

Indices: The 30-share benchmark S&P BSE Sensex closed today up by 311.98 points at 39,434.94, while the broader NSE Nifty50 closed up 96.80 points 11,796.50.

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