Daily Sugar Market Update By Vizzie – 28/09/2020

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Domestic Market: The market did not witness any major movement.
In Maharashtra: S/30 Sugar rates from millers are ₹3170/Qntl whereas M/30 ₹3240 to 3260

South Karnataka: S/30 Sugar rates are ₹3250 to 3300 whereas, M/30 rates are ₹3275.

Uttar Pradesh: The rates for M/30 are ₹3360 to 3400/Qntl.

Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3325 to 3400 whereas, M/30 rates are ₹3375 to 3450.

(All the above rates are excluding GST)

International Market: According to reports, on Friday sugar prices were pushed higher with concerns about the crop in Thailand. London sugar settled higher at a 1 month high. London white sugar contract closed +2.30 higher at $376.50 whereas New York sugar closed +0.16 higher at 13.00.

London White Sugar front month contract is trading at $378.10/tn, whereas New York Sugar front month contract is trading at 13.12/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.739 whereas USD was trading with BRL at 5.5317, Crude futures traded at Rs.2986, Crude WTI traded at $40.45 a barrel. Indian Indices ended in the green. Sensex closed 592.97 points higher at 37,981.63 whereas Nifty ended 177.30 points higher at 11,227.55.

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