Daily Sugar Market Update By Vizzie – 26/04/2021

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ChiniMandi, Mumbai: Monday 26th April 2021
Domestic Market: The market witnessed moderate demand. The market is sensing pressure due to the lockdown restrictions and surge in covid-19 cases which has once again changed the demand down consumption dynamics.
In Maharashtra: S/30 Sugar rates from millers are ₹3110 to ₹3140/Qntl. whereas M/30 ₹3220. In the resale market S/30 is trading at ₹3040 to ₹3080 whereas M/30 is trading at ₹3060 to ₹3120.
South Karnataka: S/30 rates are ₹3250 whereas M/30 is ₹3300
Uttar Pradesh: The rates for M/30 are ₹3440 to 3470
Gujarat: The rates new S/30 at ₹3161 to 3181 whereas new M/30 ₹3231 to 3251
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3380 whereas M/30 rates are at ₹3315 to 3425.
(All the above rates are excluding GST)

International Market
On Friday sugar prices closed with moderate losses. Fund buying continued to support sugar prices on concern about reduced global sugar production. May New York world sugar #11 (SBK21) closed down -0.01 at $461.20 (-0.06%), and Aug London white sugar #5 (SWQ21) closed down -1.20 at 16.91/lb (-0.26%). At the time of writing this update London White Sugar front month contract is trading at $461.80/tn, whereas New York Sugar front month contract is trading at 16.97/lb

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27500 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 74.818 whereas USD was trading with BRL at 5.4583 Crude futures traded at Rs.4576, Crude WTI traded at $60.97 a barrel. Sensex closed 508.06 points higher at 48,386.51 whereas Nifty ended 143.65 points higher at 14,485.

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