Daily Sugar Market Update By Vizzie – 30/07/2021

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ChiniMandi, Mumbai: Friday 30th July 2021

Domestic Market:

Govt. Announcement
On 29th July 2021, DFPD fixed 21 LMT sugar quota for sale in August 2021.

Govt. Announcement
According to DFPD, against the export target of 60 LMT of sugar for season 2020-21, 58.5 LMT of sugar has been dispatched from sugar mills and 53 LMT of sugar has been exported as on July 29, 2021.

Market Scenario:

The market witnessed moderate demand.

State wise Prices as on July 30, 2021 :

– Maharashtra:S/30 Sugar rates from millers are ₹3100 to ₹3120/Qntl. whereas M/30 ₹3125 to 3170/Qntl.

In the resale market S/30 is trading at ₹3040 to ₹3150/Qntl. whereas M/30 is trading at ₹3100 to ₹3200/Qntl.
– Karnataka : S/30 Sugar rates were ₹3350/Qntl.

– Uttar Pradesh: The rate for M/30 is ₹3250/Qntl.

– Gujarat: S/30 Sugar rates are ₹3100 to 3141/Qntl. whereas M/30 rates are at ₹3140 to 3221/Qntl.

– Tamil Nadu: S/30 Sugar rates are ₹3265 to 3350/Qntl. whereas M/30 rates are at ₹3325 to 3400/Qntl.

(All the above rates are excluding GST

International Market:

Yesterday’s Closing:

On Wednesday, sugar prices closed moderately higher on concerns over Brazil’s sugarcane crop. London White Sugar closed at $451.40/ton down $7.10 whereas New York Sugar closed at 18.30 cents per pound, down 0.31 points.

Market Today :

London White Sugar front month contract is trading at $447/tn whereas New York Sugar front month contract is trading at 18.10/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 ₹28700 to ₹28900 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 74.325 whereas USD was trading with BRL at 5.1053 Crude futures traded at Rs.5470 Crude WTI traded at $73.50 a barrel. Sensex closed 66.23 points lower at 52,586.84 whereas Nifty ended 15.40 points lower at 15,763.05.
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