Daily Sugar Market Update By Vizzie – 29/03/2021

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ChiniMandi, Mumbai: Monday 29th March 2021
Domestic Market:
The market witnessed moderate demand. Many major markets remained closed on occasion of Holi.
In Maharashtra: S/30 Sugar rates from millers are ₹3100 to ₹3130/Qntl. whereas M/30 ₹3215 to 3175. In the resale market S/30 is trading at ₹3000 to ₹3050 whereas M/30 is trading at ₹3050 to ₹3115
South Karnataka: S/30 rates are ₹3180 to 3200 whereas M/30 is ₹3200 to 3250.
Uttar Pradesh: The rates for M/30 are ₹3190 to 3220
Gujarat: The market was closed on occasion of Holi.
Tamil Nadu: S/30 Sugar rates are ₹3200 to 3250 whereas M/30 rates are at ₹3250 to 3275
(All the above rates are excluding GST)

International Market:
On Friday sugar prices closed mixed as strength in crude offset weakness in the Brazilian Real.
At the time of writing this update London White Sugar front month contract is trading at $433.20/tn, whereas New York Sugar front month contract is trading at 15.04/lb.

In the Indian market, white sugar of the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹27250 to ₹27350 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600- 1200 is at ₹27000 to ₹27100 factory basis.

Currency, Commodity & Indian Indices:
Along with the stock market, both currency and bond markets remained shut on occasion of Holi.

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