Daily Sugar Market Update By ‘Vizzie’ – 29/07/2019

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ChiniMandi, Mumbai – Monday 29th July 2019

Indian: The week began with the market witnessing a mixed trend. In Maharashtra, mills are opening their rates at Rs.3110 to Rs.3150/Qntl, whereas in Resell, prices are Rs.3040 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3190 to 3320. In resale, the rates are Rs.3210 to 3340. In Gujarat, S/30 is trading at Rs.3110 to 3150. In Tamil Nadu, Mill trades are taking place at Rs.3220 to Rs.3225 excluding GST.

International: The market was stable. London White Sugar is trading at $312.30 whereas US Sugar is trading at $12.14. The FOB indication for raw sugar was at $328-$330 and Indian White Sugar at $342-$345.

The demand of Raw Sugar range was ₹19700-19900/mt and White Sugar ₹20600-₹20800/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.745 meanwhile USD traded with BRL at 3.7765, Crude Futures traded at ₹3865, Crude WTI is traded at $56.16. Domestic indices ended today’s lackluster trade with marginal gains. After opening marginally higher, the headline indices Sensex and Nifty pared gains and extended losses in the afternoon trade on Monday, tracking cues. The 30-share Sensex closed 196 points down at 37,686.37, while the Nifty ended below the 11,200-mark.

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