Daily Sugar Market Update By Vizzie – 27/01/2021

ChiniMandi, Mumbai: Wednesday 27th January 2021
Domestic Market: The market witnessed moderate demand.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3150/Qntl. whereas M/30 ₹3180 to 3250. In the resale market S/30 is trading at ₹2930 to ₹3000 whereas M/30 is trading at ₹2985 to ₹3070
South Karnataka: The rates for S/30 at ₹3075 to 3100 whereas, M/30 rates are ₹3100 to 3150.
Uttar Pradesh: The rates for M/30 are ₹3215
Gujarat: The rates for S/30 are ₹3101 whereas new M/30 are at ₹3111 to 3121/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3140 to 3200 whereas, M/30 rates are 3200 to 3250
(All the above rates are excluding GST)

International Market: On Tuesday sugar prices settled mixed after New York sugar recovered from a 1-1/2 week low and moved moderately higher after a rally in the Brazilian real which sparked short-covering in futures. The real rose sharply by +2.21% against the dollar, which discourages export selling by Brazil’s sugar producers.

At the time of writing this update London White Sugar front month contract is trading at $4446.20/tn, whereas New York Sugar front month contract is trading at 16.02/lb.
In the Indian market, White sugar of the season 2020/21 Icumsa 100 ready delivery for exports is trading at Rs.26200 to Rs.26300 on ex factory basis.
Demand for Raw sugar of season 2020/21 Icumsa between 600- 1200 is at Rs.26100 to Rs.26200 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 72.995 whereas USD was trading with BRL at 5.3750 Crude futures traded at Rs.3844, Crude WTI traded at $52.47 a barrel. Sensex closed 937.66 points lower at 47409.93 whereas Nifty ended 271.40 points lower at 13967.50.

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