Daily Sugar Market Update by ‘Vizzie’ 30/10/2019

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ChiniMandi, Mumbai -Wednesday 30th October 2019

Domestic: Quietness was witnessed in the market. Maharashtra: S/30 Sugar trades are taking place at Rs.3100 to Rs.3170/Qntl whereas M/30 trades took place at Rs.3220 to Rs.3300.

Uttar Pradesh: The market trades for M/30 are taking place at Rs.3320 to 3420.

Gujarat: S/30 Sugar is trading at Rs.3180 to Rs.3230 and M/30 Rs.3280 to 3330.

Kolkata:  The trades for M/30 are taking place at Rs.3810 to 3830.

Tamil Nadu: S/30 Sugar is trading at Rs.3320 to Rs.3400 whereas M/30 is trading at Rs.3375 to 3400.

*All the domestic rates except Kolkata are excluding GST.

International Market: The market has been flat. The prices for white sugar crop 2018/19 ICUMSA below 150 for ready shipments are at Rs.20600 to Rs.20800 Ex. factory basis. The FOB indication for Indian White Sugar is at $330-332.  London White Sugar front month contract is trading at $338.10/tn whereas US Sugar front month contract is trading at 12.30/lb at the time of writing this update. Raw sugar traded in Maharashtra for exports at Rs.19750 on Ex. factory basis with FOB indication at $316-$318.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 70.930  meanwhile USD traded with BRL at 4.0159, Crude Futures traded at Rs.3930, Crude WTI traded at $55.31. Sensex closed 220.03 points higher at 40,051.87 whereas Nifty 50 closed 57.25 points higher at 11,844.10.

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