Daily Sugar Market Update By Vizzie – 30/09/2020

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ChiniMandi, Mumbai: Wednesday 30th September 2020
Domestic Market: The market was quiet after the announcement of the quota for October 2020. According to reports there has been selling pressure and rates are likely to slide down to MSP level.
In Maharashtra: S/30 Sugar rates from millers are ₹3150/Qntl whereas M/30 ₹3240 to 3260
South Karnataka: S/30 Sugar rates are ₹3250 to 3300 whereas, M/30 rates are ₹3275.
Uttar Pradesh: The rates for M/30 are ₹3250 to 3260/Qntl.
Gujarat: The rates for New S/30 are ₹3211 whereas M/30 are at ₹3241 to 3271/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3325 to 3400 whereas, M/30 rates are 33450.
(All the above rates are excluding GST)

International Market: According to reports, on Tuesday sugar prices gained recovery and moved higher. Today, the market opened without any major changes, the trading volume is getting with the New York contract expiring today.

London White Sugar front month contract is trading at $369.80/tn, whereas New York 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 73.721 whereas USD was trading with BRL at 5.6322, Crude futures traded at Rs.2869, Crude WTI traded at $38.90 a barrel. Indian Indices ended in the green. Sensex closed 94.71 points higher at 37,067 whereas Nifty ended 25.15 points lower at 11,247.55.

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