Daily Sugar Market Update By Vizzie – 26/07/2021

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ChiniMandi, Mumbai: Monday 26th July 2021
Domestic Market:

Market Scenario:
The demand was flat. Many parts of Maharashtra and Karnataka witnessed heavy to very heavy rains.
According to marketmen, logistics from Kolhapur came to a halt after heavy rains hit and flooded the city leaving the highway (NH4) from Kini toll plaza to Karnataka closed for 3 days.

State wise Prices as on July 24, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170/Qntl.
In the resale market S/30 is trading at ₹3030 to ₹3150/Qntl. whereas M/30 is trading at ₹3070 to ₹3150/Qntl.
– Karnataka : S/30 Sugar rates were ₹3225 to 3260/Qntl. whereas M/30 is trading at ₹3225/Qntl.
– Uttar Pradesh: The rates for M/30 are ₹3225 to 3250/Qntl.
– Gujarat: S/30 Sugar rates are ₹3190 to 3200/Qntl. whereas M/30 rates are at ₹3160.
– Tamil Nadu: S/30 Sugar rates are ₹3250 to 3260/Qntl. whereas M/30 rates are at ₹3330 to 3350/Qntl.
(All the above rates are excluding GST

International Market:
Friday’s Closing:
On Friday sugar prices closed high after the information released by UNICA about the damages caused by the frost that occurred this week hitting mostly the states of São Paulo and Goiás, which should reduce the expected production for the next crops. London White Sugar closed at $457.70/ton up $10.70 whereas New York Sugar closed at 18.17 cents per pound, up 0.55 points.

Market Today :
London White Sugar front month contract is trading at $454.70/tn whereas New York Sugar front month contract is trading at 18.22/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28600 to ₹28800 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.
Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.435 whereas USD was trading with BRL at 5.2051 Crude futures traded at Rs.5345 Crude WTI traded at $71.66 a barrel. Sensex closed 123.53 points lower at 52,852.27 whereas Nifty ended 31.60 points lower at 15,824.45.
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