Daily Sugar Market Update By Vizzie – 31/08/2020

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ChiniMandi, Mumbai: Monday 31st August 2020
Domestic Market:The market was stable with no major movement in await of announcement of quota for the month of September 2020.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3160/Qntl whereas M/30 ₹3240 to 3260
South Karnataka: S/30 Sugar rates are ₹3350 to 3400 whereas, M/30 rates are ₹3375 to 3450.
Uttar Pradesh: The rates for M/30 are ₹3370 to 3400/Qntl.
Gujarat: The rates for New S/30 are ₹3251 to 3255 whereas M/30 are at ₹3271 to 3281/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3400 to 3475 whereas, M/30 rates are ₹3450 to 3525.
(All the above rates are excluding GST)

International Market: According to reports, on Friday sugar prices recovered from lows and posted moderate gains owing to strength in the Brazilian real, which rallied +0.77% against the dollar on Thursday. New York sugar closed down -0.17 at 12.60/lb, and London white sugar closed down -2.30 at $359.70.

London White Sugar front month contract is trading at $359.70/tn, whereas New York Sugar front month contract is trading at 12.60/lb at the time of writing this update.

Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.256 whereas USD is trading with BRL at 5.3880, Crude futures traded at Rs.3,189, Crude WTI traded at $43.44 a barrel. Indian Indices ended in the red. Sensex closed 839.02 points lower at 38,628.29 whereas Nifty ended 260.10 points lower at 11,387.50.

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