Daily Sugar Market Update By Vizzie – 30/06/2021

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ChiniMandi, Mumbai: Wednesday 30th June 2021
Domestic Market:

DFPD Announcement
In a notification issued on 29th day of June 2021, the food ministry has allocated 22 LMT monthly sugar quota for July 2021

Market Scenario:
The market witnessed weak sentiments. No major movement took place.

State wise Prices as on June 30, 2021 :
– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170.
In the resale market S/30 is trading at ₹3020 to ₹3040 whereas M/30 is trading at ₹3040 to ₹3105.
– Karnataka : S/30 Sugar rates from millers are ₹3160 to 3200 whereas M/30 is at ₹3250
– Uttar Pradesh: The rates for M/30 are ₹3200
– Gujarat:  S/30 Sugar rates are ₹3110 to 3121 whereas M/30 rates are at ₹3161 to 3171
– Tamil Nadu: S/30 Sugar rates are ₹3200 to 3275 whereas M/30 rates are at ₹3300
(All the above rates are excluding GST

International Market:
Yesterday’s Closing:

On Tuesday sugar prices closed lower. London white sugar closed at $432.30/ton down $0.21 whereas raw sugar on the New York Stock Exchange closed at 17.23 cents per pound.

Market Today :
London White Sugar front month contract is trading at $434.50/tn whereas New York Sugar front month contract is trading at 17.19/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 ₹28400 to ₹28500 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 74.373 whereas USD was trading with BRL at 5.0024 Crude futures traded at Rs.5482, Crude WTI traded at $73.63 a barrel. Sensex closed 66.95 points lower at 52482.71 whereas Nifty ended 26.95 points lower at 15721.50.

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