Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai -Thursday, 14th March 2019

Domestic: There was some demand in the market with the Holi festival around the corner. In Maharashtra, Mills are opening trades at ₹3100 with negligible sales whereas, in resell, S/30 is trading at ₹2965 to ₹3010. In Uttar Pradesh, Ex-mill trades are taking place from ₹3100 to ₹3120. In resell, M/30 sugar is trading at  ₹3060 to ₹3100. In Gujarat, S/30 is trading at ₹3100. In Tamil Nadu, Mill trades are taking place at ₹3150 to ₹3200 excluding GST.

  • International: The market is flat. London White Sugar is trading at $338 whereas US Sugar is trading at $12.35.

The FOB indication for raw sugar was at $303-$306 and Indian White Sugar at $314-$317.

The demand of Raw Sugar range was ₹19000-19200/mt and White Sugar ₹19600-₹19800/MT on Ex.factory basis.

  • Currency & Commodity: The rupee was trading against the US dollar at 69.51 meanwhile USD traded with BRL at 3.814, Crude Futures traded at ₹4037, WTI $58.15.

 

  • Looking at indices, Stock markets closed with marginal gains in volatile trade as investors booked profits at higher levels amid mixed global cues. The benchmark BSE Sensex ended up by 2.72 points at 37,754.89 extending gains to the fourth session. The broader NSE Nifty closed with gains of 1.55 points at 11,343.25.

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