Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Wednesday 27th March 2019

• Domestic: With the announcement of the quota for the month of April along with extension of unsold sugar stocks for the current month i.e. March 2019 to be sold in April 2019, the market continued witnessing an upward trend nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3115/Qntl. Whereas, in resell, the market took an uplift by Rs.20 with good demand. Resell rates are Rs.2970 to 3020. In Uttar Pradesh, mill sales were taking place at Rs.3160 to 3200 today. In resale the market rates were Rs.3120 to 3160. In Gujarat, S/30 is trading at ₹3110. In Tamil Nadu, Mill trades are taking place at Rs.3150 to Rs.3200 excluding GST.

• International: No major movement took place. London White Sugar is trading at $332.10 whereas US Sugar is trading at $12.67.

The FOB indication for raw sugar was at $307-$310 and Indian White Sugar at $318-$321.

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

• Currency & Commodity: The rupee was trading against the US dollar at 69.27 meanwhile USD traded with BRL at 3.877, Crude Futures traded at ₹4128, WTI $59.58

•Indices: The BSE benchmark Sensex erased early gains and ended lower as finance, banking and IT shares succumbed to selling pressure.The 30-share index settled 100.53 points lower at 38,132.88, while the broader NSE Nifty slipped 38.20 points to 11,445.05.

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