Daily Sugar Market Update By ‘Vizzie’ – 30/07/2019

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ChiniMandi, Mumbai – Tuesday 30th July 2019

Indian: The sugar market witnessed a mixed trend owing to the await of quota of August. In Maharashtra sugar mills are opening their rates at Rs.3110 to Rs.3150/Qntl, whereas in Resell, prices are Rs.3040 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3190 to 3320. In resale, the rates are Rs.3210 to 3340. In Gujarat, S/30 is trading at Rs.3110 to 3150. In Tamil Nadu, Mill trades are taking place at Rs.3200 to Rs.3250 excluding GST.

International: The sugar market was stable. London White Sugar prcie is trading at $323.80 whereas US Sugar price is trading at $12.15. The FOB indication for raw sugar was at $328-$330 and Indian White Sugar price at $342-$345.

The demand of Raw Sugar range was ₹19700-19900/mt and White Sugar ₹20600-₹20800/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 68.808 meanwhile USD traded with BRL at 3.7900, Crude Futures traded at ₹3946, Crude WTI is traded at $57.23. The headline indices Sensex and Nifty close lower after opening marginally higher in the morning but slipped heavily in the latter part of the trading session. The Sensex lost 289 points to end at 37,397 level, the Nifty50 settled at a level of 11,080, down 108 points from the previous settlement.

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