Daily Sugar Market Update By ‘Vizzie’ – 26/08/2019

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ChiniMandi, Mumbai – Monday 26th August 2019
Indian: The week began with quietness nationwide. Mills are opening their rates at Rs.3110 to Rs.3130/Qntl, whereas in Resell, prices are Rs.3100 to 3120. In Uttar Pradesh, Mill sales are taking place at Rs.3330 to 3370. In resale, the rates are Rs.3310 to 3350. In Gujarat, S/30 is trading at Rs.3210 to 3340. In Tamil Nadu, Mill trades are taking place at Rs.3375 to Rs.3500 excluding GST.

International: There were no major movements. Trade for London White Sugar did not take place due to a holiday. US Sugar is trading at $11.52. The FOB indication for raw sugar was at $325-$330 and Indian White Sugar at $340-$345. The demand of Raw Sugar range was ₹20200-20500/mt and White Sugar ₹21500-₹21800/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 72.020 meanwhile USD traded with BRL at 4.1199, Crude Futures traded at ₹3938, Crude WTI is trading at $54.52. After Finance Minister Nirmala Sitharaman’s economy booster, the market witnessed a jump. Sensex ended 792.96 points higher at 37,494.12. Similarly, NSE Nifty ended 228.50 points up at 11,057.85.

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