Daily Sugar Market Update By Vizzie – 30/06/2020

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ChiniMandi, Mumbai: Tuesday 30th June 2020
Domestic Market: The market witnessed scanty demand nationwide however according to market experts, demand for sugar is yet likely to pick up pace since the country has reached the scenario of complete unlocking. Once hotels, restaurants, theatres, malls etc. open, the industry shall witness the actual demand coming in.
Maharashtra: S/30 Sugar rates from millers are ₹3170 to ₹3200/Qntl whereas M/30 ₹3270 to 3300
South Karnataka: The rates for S/30 are ₹3400 to 3425/Qntl whereas for M/30 are at ₹3475/Qntl
Uttar Pradesh: The rates for M/30 are ₹3325 to ₹3335/Qntl.
Gujarat: The rates for New S/30 are ₹3211 to 3221 whereas M/30 are at ₹3221 to 3261/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3350 to Rs.3475 whereas, M/30 rates are ₹3420 to 3525.
(All the above rates are excluding GST)

International Market:
According to reports, on Monday sugar prices settled higher on a rally in crude prices and strength in the Brazilian real.
London White Sugar front month contract is trading at $356.60/tn, whereas US Sugar front month contract is trading at 11.92/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 75.585 whereas USD traded with BRL at 5.4037, Crude futures traded at Rs.2971, Crude WTI traded at $39.23. Indices ended in the red, sensex closed 45.72 points lower at 34,915.80. Similarly, Nifty ended 10.30 points lower at 10,302.10.

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