Daily Sugar Market Update By Vizzie – 29/09/2020

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ChiniMandi, Mumbai: Tuesday 29th September 2020

Domestic Market: The market was quiet after the announcement of the quota for October 2020. According to reports there has been selling pressure and rates are likely to slide down to MSP level.
In Maharashtra: S/30 Sugar rates from millers are ₹3160/Qntl whereas M/30 ₹3240 to 3260

South Karnataka: S/30 Sugar rates are ₹3250 to 3300 whereas, M/30 rates are ₹3275.

Uttar Pradesh: The rates for M/30 are ₹3360 to 3400/Qntl.

Gujarat: The rates for New S/30 are ₹3211 whereas M/30 are at ₹3241 to 3291/Qntl.

Tamil Nadu: S/30 Sugar rates are ₹3325 to 3400 whereas, M/30 rates are 3450.

(All the above rates are excluding GST)

International Market: According to reports, on Monday sugar prices closed sharply low owing to long liquidation from funds.

London White Sugar front month contract is trading at $368.20/tn, whereas New York Sugar front month contract is trading at 12.78/lb at the time of writing this update.

Currency, Commodity & Indian Indices:
The rupee traded against the US dollar at 73.758 whereas USD was trading with BRL at 5.6566, Crude futures traded at Rs.2951 Crude WTI traded at $39.93 a barrel. Indian Indices ended in the red. Sensex closed 8.41 points lower at 37,973.22 whereas Nifty ended 5.15 points lower at 11,222.40

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