Daily Sugar Market Update By Vizzie – 30/09/2021

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ChiniMandi, Mumbai: Wednesday 30th September 2021

Domestic Market:

Market Scenario:
Market witnessed scanty demand, market sentiments were weak in anticipation of announcement of quota for October 2021.
State wise prices as on September 29th, 2021 :
◾ Maharashtra:S/30 Sugar rates from millers are ₹3330 to ₹3450/Qntl. whereas M/30 ₹3425 to 3500/Qntl.
◾ Karnataka : S/30 Sugar rates were ₹3380 to 3450/Qntl. M/30 is at ₹3460 to 3475/Qntl.
◾ Uttar Pradesh: The rates for M/30 are ₹3670 to 3700/Qntl.
◾ Gujarat: S/30 Sugar rates are ₹3361 to 3441/Qntl. whereas M/30 rates are at ₹3501 to 3531.
◾ Tamil Nadu: S/30 Sugar rates are ₹3525 to 3650/Qntl. whereas M/30 rates are at ₹3585 to 3700/Qntl.

(All the above rates are excluding GST)

International Market:

Yesterday’s Closing:
On Tuesday sugar prices closed moderately lower after weakness in crude prices and Brazilian Real. London White Sugar closed at $505/ton down $4.80 whereas New York Sugar closed down 0.04 points down at 18.94 cents per pound.

Market Today:
London White Sugar front month contract is trading at $503.70/tn whereas New York Sugar front month contract is trading at 18.94/lb

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 74.211 whereas USD was trading with BRL at 5.4049 Crude futures traded at Rs.5493 Crude WTI traded at $74.214 a barrel. Sensex closed 286.91 points lower at 59,126.36 whereas Nifty ended 93.15 points lower at 17,618.15.

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