Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Thursday 28th March 2019

• Domestic: The market was stable nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to ₹3115/Qntl with trades lesser than yesterday. Whereas, Resell rates are ₹2970 to 3020. In Uttar Pradesh, mill sales were taking place at Rs.3160 to 3200 today. In resale the market rates were ₹.3120 to 3160. In Gujarat, S/30 is trading at ₹3110. In Tamil Nadu, Mill trades are taking place at ₹3150 to ₹3200 excluding GST.

• International: The market has been flat. London White Sugar is trading at $327.90 whereas US Sugar is trading at $12.56.
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 ₹19600-₹19800/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.60 meanwhile USD traded with BRL at 3.964, Crude Futures traded at ₹4072, WTI $58.58

•Indices: BSE benchmark Sensex zoomed over on robust buying in banking, finance, telecom and IT stocks. The 30-share Sensex, after a positive start stayed in the green throughout the session, with buying pace gathering momentum towards the end. It finally finished at 38,545.72, showing a gain of 412.84 points. The broader NSE Nifty settled at 11,570, higher by 124.95 points.

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