Daily Sugar Market Update By Vizzie – 27/07/2021

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ChiniMandi, Mumbai: Tuesday 27th July 2021
Domestic Market:
Market Scenario:
The market witnessed moderate demand.
State wise Prices as on July 27, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170/Qntl.
In the resale market S/30 is trading at ₹3030 to ₹3150/Qntl. whereas M/30 is trading at ₹3070 to ₹3150/Qntl.
– Karnataka : S/30 Sugar rates were ₹3250 to 3260/Qntl. whereas M/30 is trading at ₹3225/Qntl.
– Uttar Pradesh: The rate for M/30 is ₹3250/Qntl.
– Gujarat: S/30 Sugar rates are ₹3100 to 3131/Qntl. whereas M/30 rates are at ₹3140 to 320/Qntl.
– Tamil Nadu: S/30 Sugar rates are ₹3250 to 3325/Qntl. whereas M/30 rates are at ₹3330 to 3375/Qntl.
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:
On Friday sugar prices closed mixed on concerns of the damages caused by the frost that occurred this week hitting mostly the states of São Paulo and Goiás, which should reduce the expected production for the next crops. London White Sugar closed at $456.40/ton down $1.30 whereas New York Sugar closed at 18.42 cents per pound, up 0.25 points.

Market Today :
London White Sugar front month contract is trading at $461.20/tn whereas New York Sugar front month contract is trading at 18.54/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28600 to ₹28800 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.483 whereas USD was trading with BRL at 5.1769 Crude futures traded at Rs.5372 Crude WTI traded at $72.00 a barrel. Sensex closed 273.51 points lower at 52,578.76 whereas Nifty ended 78 points lower at 15,746.45.

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