Daily Sugar Market Update by ‘Vizzie’ 29/11/2019

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ChiniMandi, Mumbai Friday, 29th November 2019
Domestic: The market was quiet owing to the await of quota for the month of December.
Maharashtra: S/30 Sugar trades are taking place at Rs. 3050 to Rs.3100/Qntl whereas M/30 trades are taking place at Rs. 3150 to Rs.3200.
South Karnataka:S/30 trades are taking place at Rs.3200 to 3230 whereas M/30 trades are taking place at Rs.3250 to 3280.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3295 to 3360.
Gujarat: S/30 Sugar is trading at Rs.3140 to Rs.3160 and M/30 Rs.3230 to 3290.
Kolkata: The trades for S/30 are taking place at Rs.3520 to 3560.
Tamil Nadu: S/30 Sugar is trading at Rs.3250 to Rs.3350 whereas M/30 is trading at Rs.3335 to 3350.
*All the domestic rates except Kolkata are excluding GST.

International Market: There is a good demand for ready delivery white sugar of season 2018/19. The prices are at Rs.20300 to Rs.20400. For 2019-20 crop December delivery the demand is Rs.20700 to 20800 ex factory basis however there is no seller in the market at this point of time. For Raw sugar 2019-20 crop, prices are at Rs.20200 to Rs.20300 ex factory basis.
The FOB indication for Indian White Sugar is at $322 to 324 for iccumsa 150 crop 2018/19 And $ 332 to 334 for iccumsa 100 crop 2019/20. FOB indication for Indian raw sugar is $ 324 to 326
London White Sugar front month contract is trading at $343.50/tn whereas US Sugar front month contract is trading at 12.85/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 71.767 meanwhile USD traded with BRL at 4.1894, Crude Futures trades at Rs.4151, Crude WTI traded at $58.11. Indian Indices ended lower following losses in index heavyweights. Sensex closed 336.36 points lower at 41,793.81 whereas Nifty 50 closed 95.10 points higher at 12,056.05.

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