Daily Sugar Market Update By ‘Vizzie’ 13/03/2019

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ChiniMandi, Mumbai -Wednesday 13th March 2019

Domestic: The standstill mode of sugar sales has continued across the nation for the third straight day of the week. Mills are desperate to sell sugar stocks. In Maharashtra, Mills are opening trades at ₹3100 with negligible sales whereas, in resell, S/30 is trading at ₹2965 to ₹3010. In Uttar Pradesh, Ex-mill trades are taking place from ₹3100 to ₹3120. In resell, M/30 sugar is trading at  ₹3060 to ₹3100. In Gujarat, S/30 is trading at ₹3100. In Tamil Nadu, Mill trades are taking place at ₹3150 to ₹3200 excluding GST.    

  • International: The market is flat. London White Sugar is trading at $339.50 whereas US Sugar is trading at $12.30.

The FOB indication for raw sugar was at $303-$306 and Indian White Sugar at $314-$317.

The demand of Raw Sugar range was ₹19000-19200/mt and White Sugar ₹19600-₹19800/MT on Ex.factory basis.

  • Currency & Commodity: The rupee was trading against the US dollar at 69.54 meanwhile USD traded with BRL at 3.811, Crude Futures traded at ₹3995, WTI $57.41.
  • Looking at indices, Continuing its rising streak for the third session in a row, the BSE Sensex Wednesday climbed on unabated buying in banking stocks amid strong foreign fund inflows and positive domestic cues. The 30-share BSE index ended 216.51 points higher at 37,752.17. The broader NSE Nifty closed with gains of 40.50 points at 11,341.70.

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