Daily Sugar Market Update By Vizzie – 27/04/2021

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ChiniMandi, Mumbai: Tuesday 27th April 2021
Domestic Market:
The market has been witnessing scanty demand due to the lockdown restrictions and surge in covid-19 cases which has once again changed the demand down consumption dynamics.
In Maharashtra: S/30 Sugar rates from millers are ₹3110 to ₹3140/Qntl. whereas M/30 ₹3220. In the resale market S/30 is trading at ₹3035 to ₹3070 whereas M/30 is trading at ₹3060 to ₹3120.
South Karnataka: S/30 rates are ₹3250 whereas M/30 is ₹3300
Uttar Pradesh: The rates for M/30 are ₹3440 to 3470
Gujarat: The rates new S/30 at ₹3151 to 3171 whereas new M/30 ₹3221 to 3241
Tamil Nadu: S/30 Sugar rates are ₹3250 to 3380 whereas M/30 rates are at ₹3315 to 3425.
(All the above rates are excluding GST)

International Market
On Monday sugar prices closed moderately higher, with New York sugar posting a new 2-month high. Fund buying continued to support sugar prices on concerns about reduced global sugar production.

At the time of writing this update London White Sugar front month contract is trading at $468.90/tn, whereas New York Sugar front month contract is trading at 16.97/lb

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27500 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.594 whereas USD was trading with BRL at 5.4424 Crude futures traded at Rs.4673, Crude WTI traded at $62.49 a barrel. Sensex closed 557.63 points higher at 48,944.14 whereas Nifty ended 168.05 points higher at 14,653.05.

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