Daily Sugar Market Update By Vizzie – 25/12/2020

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ChiniMandi, Mumbai: Friday 25th December 2020

Domestic Market: Nationwide, no major movement was witnessed owing to Christmas. 

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 of 2019-20 is trading at ₹3000 to ₹3030 & S/30 of 2020-2021 is trading at 3010 to 3050. 

South Karnataka: The rates for S/30 at ₹3100 to 3130 whereas, M/30 rates are ₹3130 to 3175. Uttar Pradesh: The rates for M/30 are ₹3230 

Gujarat: The rates for S/30 are ₹3101 whereas M/30 are at ₹3111/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3185 to 3300 whereas, M/30 rates are 3235 to 3325. (All the above rates are excluding GST)

International Market: According to reports on Thursday sugar prices closed higher with strength in demand from China the world’s second-largest sugar importer. The China’s General Administrations of Customs reported that in November China’s sugar imports surged +114% y/y to 710 MT and Jan-Nov China sugar imports rose +37.3% y/y to 4.36 MMT.

Yesterday, the London White Sugar front month contract closed +1.20 higher at $408.60/tn, whereas the New York Sugar front month contract closed +0.07 higher at 14.90 c/lb. 

Today the domestic and international markets are closed on the occasion of Christmas.

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