Daily Sugar Market Update By Vizzie – 29/07/2021

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ChiniMandi, Mumbai: Thursday 29th July 2021

Domestic Market:

Govt. Announcement
On 29th July 2021, DFPD fixed 21 LMT sugar quota for sale in August 2021

Market Scenario:

The market witnessed moderate demand.

State wise Prices as on July 29, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170/Qntl.
In the resale market S/30 is trading at ₹3030 to ₹3150/Qntl. whereas M/30 is trading at ₹3070 to ₹3150/Qntl.
– Karnataka : S/30 Sugar rates were ₹3250 to 3260/Qntl. whereas M/30 is trading at ₹3225/Qntl.
– Uttar Pradesh: The rate for M/30 is ₹3250/Qntl.
– Gujarat: S/30 Sugar rates are ₹3100 to 3141/Qntl. whereas M/30 rates are at ₹3140 to 3221/Qntl.
– Tamil Nadu: S/30 Sugar rates are ₹3250 to 3325/Qntl. whereas M/30 rates are at ₹3350 to 3375/Qntl.
(All the above rates are excluding GST)

International Market:

Yesterday’s Closing:
On Wednesday, sugar prices closed moderately higher on concerns over Brazil’s sugarcane crop. London White Sugar closed at $458.50/ton up $3.80 whereas New York Sugar closed at 18.61 cents per pound, up 0.26 points.

Market Today :
London White Sugar front month contract is trading at $456.40/tn whereas New York Sugar front month contract is trading at 18.48/lb

Indian Export Rates Today:
In the Indian market, white sugar for the season 2020/21 icumsa 100 ready delivery for exports is trading at ₹28700 to ₹28900 on ex factory basis. Demand for Raw sugar of the season 2020/21 icumsa between 600-1200 is at ₹28000 to ₹28200 factory basis.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.279 whereas USD was trading with BRL at 5.1165 Crude futures traded at Rs.5471 Crude WTI traded at $72.84 a barrel. Sensex closed 209.36 points higher at 52,653.07 whereas Nifty ended 69.05 points lower at 15,778.45.

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