Daily Sugar Market Update By Vizzie – 28/07/2020

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ChiniMandi, Mumbai: Tuesday 28th July 2020
Domestic Market: The market remained stable.
Maharashtra: S/30 Sugar rates from millers are ₹3180 to ₹3200/Qntl whereas M/30 ₹3280 to ₹3310.
South Karnataka: The rates for S/30 are ₹3350 to 3400 and M/30 are ₹3450.
Uttar Pradesh: The rates for M/30 are ₹3290 to 3330/Qntl.
Gujarat: The rates for New S/30 are ₹3311 whereas M/30 are at ₹3311 to 3321/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3400 to 3475 whereas, M/30 rates are ₹3450 to ₹3475
(All the above rates are excluding GST)

International Market: According to reports, on Monday sugar prices closed higher with New York sugar at a 2-1/2 week high and London sugar at a 6-week high owing to strong sugar demand from Indonesia after Indonesia reportedly issued Q4 import licenses for 600,000 MT of sugar. London White Sugar front month contract is trading at $367.50/tn, whereas US Sugar front month contract is trading at 12.24/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 74.839 whereas USD traded with BRL at 5.1448, Crude futures traded at Rs.3108, Crude WTI traded at $41.42. Indices ended in the green, sensex closed 558.22 points higher at 38,492.95. Similarly, Nifty ended 168.75 points higher at 11,300.55.

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