Daily Sugar Market Update By ‘Vizzie’ – 28/08/2019


ChiniMandi, Mumbai – Wednesday 28th August 2019

Indian: The Cabinet approved Sugar export policy for evacuation of surplus stocks during sugar season 2019-20 with export subsidy. However, the market continued to witness quietness nationwide owing to await announcement of quota for the month of September. In Maharashtra, Mills are opening their rates at Rs.3110 to Rs.3130/Qntl, whereas in Resell, prices are Rs.3100 to 3120. In Uttar Pradesh, Mill sales are taking place at Rs.3230 to 3370. In resale, the rates are Rs.3310 to 3350. In Gujarat, S/30 is trading at Rs.3180 to 3300. In Tamil Nadu, Mill trades are taking place at Rs.3350 to Rs.3455 excluding GST.

International: The market was stable. London White Sugar is trading at $309.8 whereas US Sugar is trading at $11.43. The FOB indication for raw sugar was at $325-$330 and Indian White Sugar at $340-$345. The demand of Raw Sugar range was ₹20200-20500/mt and White Sugar ₹21500-₹21800/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 71.84  meanwhile USD traded with BRL at 4.1528, Crude Futures traded at ₹4005, Crude WTI is trading at $55.63. After gains in the first two days, on Wednesday markets closed in the negative zone.

Sensex today on 28th August 2019 ended 189.43 points lower at 37,451.84. Similarly, NSE Nifty ended 59.25 points down at 11,046.10.

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