Daily Sugar Market Update by ‘Vizzie’ 25/10/2019

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ChiniMandi, Mumbai – Friday 25th October 2019

Domestic: With an upcoming 3 days bank holiday, there was a good demand however prices were firm.  Maharashtra: S/30 Sugar trades are taking place at Rs.3100 to Rs.3170/Qntl whereas M/30 trades took place at Rs.3220 to Rs.3300.

Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to 3420.

Gujarat:  S/30 Sugar is trading at Rs.3180 to Rs.3230 and M/30 Rs.3280 to 3330.

Kolkata:  The trades for M/30 are taking place at Rs.3810 to 3830.

Tamil Nadu: S/30 Sugar is trading at Rs.3320 to Rs.3400 whereas M/30 is trading at Rs.3375 to 3400.

*All the domestic rates except Kolkata are excluding GST.

International Market: There was good demand for white sugar crop 2018/19 ICUMSA below 150 for ready shipments at Rs.20600 to Rs.20800 Ex. factory basis. The FOB indication for Indian White Sugar is at $330-332.  London White Sugar front month contract is trading at $334.90/tn whereas US Sugar front month contract is trading at 12.30/lb at the time of writing this update. Raw sugar traded in Maharashtra for exports at Rs.19750 on Ex. factory basis with FOB indication at $316-$318.

Currency,Commodity & Indian Indices: The rupee traded against the US dollar at 70.897  meanwhile USD traded with BRL at 4.0406, Crude Futures traded at Rs.3981, Crude WTI traded at $56.09.  Sensex closed 37.67 points higher at 39,058.06 whereas Nifty closed 1.30 points higher at 11,583.90.

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