Daily Sugar Market Update By Vizzie – 27/06/2020

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ChiniMandi, Mumbai: Saturday 27th June 2020
Domestic Market: The market was steady nationwide, overall fresh – buying was not witnessed much.
Maharashtra: S/30 Sugar rates from millers are ₹3170 to ₹3190/Qntl whereas ₹3220 to 3270
South Karnataka: The rates for S/30 are ₹3425/Qntl whereas for M/30 are at ₹3475/Qntl
Uttar Pradesh: The rates for M/30 are ₹3320 to ₹3335/Qntl.
Gujarat: The rates for New S/30 are ₹3231 to 3241 whereas M/30 are at ₹3241 to 3281/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3350 to Rs.3475 whereas, M/30 rates are ₹3420 to 3525.
(All the above rates are excluding GST)

International Market:
According to reports, on Friday sugar prices posted moderate losses with NY sugar at a 3-week low closing at $351.20/tn and London sugar at a 5-week low closing at 11.55/lb. Another bearish factor for sugar was the weakness in the Brazilian real, which fell -1.08% to a 1-month low against the dollar on Friday.

Currency, Commodity & Indian Indices: On Friday, amid volatility Indian indices Sensex and Nifty ended in the green yesterday with Sensex closing 329.17 points higher at 35,171.27 whereas Nifty ended 94.10 points higher at 10,383. According to experts, the market may continue to be dictated by global cues. Indian Rupee closed flat at 75.64 against the dollar though buying was witnessed in the domestic equity market.

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