Daily Sugar Market Update By ‘Vizzie’ – 29/03/2019

 

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ChiniMandi, Mumbai – Friday 29th March 2019

• Domestic: The market was stable nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3115/Qntl with trades lesser than yesterday. Whereas, 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.3105 to Rs.3140. 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: The market has been improving. London White Sugar is trading at $327.80 whereas US Sugar is trading at $12.61.

The FOB indication for raw sugar was at $310-$312 and Indian White Sugar at $322-$324.
The demand of Raw Sugar range was ₹19500-19600/mt and White Sugar ₹19900-₹20000/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.48 meanwhile USD traded with BRL at 3.868, Crude Futures traded at ₹4179, WTI $60.24

•Indices: Rising for the second straight day, the BSE Sensex vaulted while the NSE Nifty finished on heavy buying in auto and metal stocks amid persistent foreign fund inflows and positive global leads. The 30-share Sensex winded up at 38,672.91, recording a rise of 127.19 points. The 50-share NSE Nifty closed at 11,623.90, higher by 53.90 points.

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