Daily Sugar Market Update by ‘Vizzie’ – 27/09/2019

ChiniMandi, Mumbai – Friday 27th September 2019

Domestic: The market picked demand today and marketmen expected that the demand would pick with Navratri round the corner.
Maharashtra: S/30 Sugar trades are taking place at Rs.3105 to Rs.3140/Qntl whereas M/30 trades took place at Rs.3255 to Rs.3460.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3410 to 3570.
Gujarat: S/30 Sugar is trading at Rs.3120 to Rs.3155 and M/30 Rs.3240 to 3290
Kolkata: The trades for M/30 are taking place at Rs.3800 to 3825.
Tamil Nadu: S/30 Sugar is trading at Rs.3380 to Rs.3525 whereas M/30 is trading at Rs.3350 to 3525.
*All domestic rates except Kolkata are excluding GST

International Market: Market seems to be in a consolidated mode and trying to find new bottom around these levels. Today, London White Sugar front month contract is trading at $341/tn whereas NY#11 raws front month contract is trading at 11.61cnts/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 70.524 meanwhile USD traded with BRL at 4.1708, Crude Futures traded at Rs.3947, Crude WTI traded at $55.83. Indian indices Sensex and Nifty closed lower as financial heavyweights dragged. The Sensex closed 167.17 points down to 38,822.57, while the Nifty closed at 11,512.40 down 58.80 points.

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