Daily Sugar Market Update By Vizzie – 29/06/2020


ChiniMandi, Mumbai: Monday 29th June 2020
Domestic Market: The market witnessed scanty demand nationwide.
Maharashtra: S/30 Sugar rates from millers are ₹3170 to ₹3190/Qntl whereas M/30 ₹3270 to 3290
South Karnataka: The rates for S/30 are ₹3425/Qntl whereas for M/30 are at ₹3475/Qntl
Uttar Pradesh: The rates for M/30 are ₹3325 to ₹3335/Qntl.
Gujarat: The rates for New S/30 are ₹3231 to 3241 whereas M/30 are at ₹3241 to 3281/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3350 to Rs.3475 whereas, M/30 rates are ₹3420 to 3525.
(All the above rates are excluding GST)

International Market:
According to reports, on Friday sugar prices posted moderate lossed with NY sugar at a 3-week low closing at $351.20/tn and London sugar at a 5-week low closing at 11.55/lb. Another bearish factor for sugar was the weakness in the Brazilian real, which fell -1.08% to a 1-month low against the dollar on Friday.

London White Sugar front month contract is trading at $348.30/tn, whereas US Sugar front month contract is trading at 11.42/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 75.507 whereas USD traded with BRL at 5.4858, Crude futures traded at Rs.2927, Crude WTI traded at $38.72. Indices ended in the red, sensex closed 209.75 points lower at 34,961.52. Similarly, Nifty ended 70.60 points higher at 10,312.40.

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