Daily Sugar Market Update By Vizzie – 29/09/2021

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ChiniMandi, Mumbai: Tuesday 29th September 2021

Domestic Market:

Market Scenario:
Market witnessed scanty demand, market sentiments were weak in anticipation of announcement of quota for October 2021.
State wise prices as on September 29th, 2021 :

◾ Maharashtra:S/30 Sugar rates from millers are ₹3330 to ₹3450/Qntl. whereas M/30 ₹3400 to 3500/Qntl.

◾ Karnataka : S/30 Sugar rates were ₹3380 to 3425/Qntl. M/30 is at ₹3460 to 3475/Qntl.
◾ Uttar Pradesh: The rates for M/30 are ₹3670 to 3700/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3361 to 3441/Qntl. whereas M/30 rates are at ₹3501 to 3531.
◾ Tamil Nadu: S/30 Sugar rates are ₹3510 to 3650/Qntl. whereas M/30 rates are at ₹3560 to 3700/Qntl.

(All the above rates are excluding GST)

International Market:
Yesterday’s Closing:
On Monday sugar prices closed moderately higher. London White Sugar closed at $509.80/ton up $7.40 whereas New York Sugar closed down 0.25 points at 18.98 cents per pound.

Market Today :
London White Sugar front month contract is trading at $509.50/tn whereas New York Sugar front month contract is trading at 19.14/lb

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.214 whereas USD was trading with BRL at 5.4250 Crude futures traded at Rs.5574 Crude WTI traded at $75.00 a barrel. Sensex closed 254.33 points lower at 59,413.27 whereas Nifty ended 37.30 points lower at 17,711.30.

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