Daily Sugar Market Update By Vizzie – 26/11/2020

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ChiniMandi, Mumbai: Thursday 26th November 2020
Domestic Market: Moderate demand was witnessed nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl whereas M/30 ₹3250 to 3270
South Karnataka: S/30 Sugar rates are ₹3170 to 3210 whereas, M/30 rates are ₹3205 to 3260.
Uttar Pradesh: The rates for M/30 are ₹3300 to 3350/Qntl.
Gujarat: The rates for M/30 are at ₹3171 to 3211/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3350 whereas, M/30 rates are 3300 to 3375.
(All the above rates are excluding GST)
International Market: On Wednesday, sugar prices slipped to a 2-week low after the reports of UNICA on larger Brazil sugar output. Unica reported razil’s Center-South sugar production in the first half of November rose +57 y/y to 1.242 MMT, above expectations of 1.120 MMT. The percentage of cane used for sugar rose to 41.74% in 2020/21 from 28.42% in 2019/20.

March New York world sugar #11 (SBH21) closed down -0.27 at 14.77. March London white sugar #5 (SWH21) closed down -7.90 at $400.70

London White Sugar front month contract is trading at $403/tn. New York Sugar is not trading on occasion of Thanksgiving.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.849 whereas USD was trading with BRL at 5.3810 Crude futures traded at Rs.3337, Crude WTI traded at $45.09 a barrel. Indian Indices ended in the green, sensex closed 431.64 points higher at 44259.74 whereas Nifty ended 128.60 points higher at 12,987.

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