Daily Sugar Market Update By ‘Vizzie’ – 29/04/2019

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ChiniMandi, Mumbai – Monday 29th April 2019

• Domestic: With the wait for the monthly quota for May, the market witnessed a mixed trend nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3120/Qntl, whereas in Resell, the rates are Rs.3020 to 3050. In Uttar Pradesh, Mill sales are taking place at Rs.3180 to 3230. In resale, the market rates are Rs.3170 to 3210. In Gujarat, S/30 is trading at Rs.3120 to 3140. In Tamil Nadu, Mill trades are taking place at Rs.3300 to Rs.3400 excluding GST.

• International: 80% MIEQ in Maharashtra is shipped out due to which there is less quantity of exportable white sugar. Pricings are ruling on the upper side owing to the demand of sugar from Arabian countries due to Ramdan. London White Sugar is trading at $337.108 whereas US Sugar is trading at $12.16.

The FOB indication for raw sugar was at $314-$316 and Indian White Sugar at $322-$325.
The demand of Raw Sugar range was ₹19800-20000/mt and White Sugar ₹20300-₹20500/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.825 meanwhile USD traded with BRL at 3.929, Crude WTI is trading at $63.09

• Today the stock markets were closed with Phase 4 of elections taking place.

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