Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Friday, 22nd March 2019

• Domestic: Quietness continued to prevail in the market due to the heavy announced quota of the current month, the market witnessed bearish trend nationwide. In Maharashtra, the mills are opening trades at ₹3100, however, there has been no sales, whereas, in resell, S/30 is trading at ₹2935 to ₹2980. In Uttar Pradesh, Ex-mill trades are taking place from ₹3100 to ₹3120. In resell, M/30 sugar is trading at ₹3065 to ₹3100. In Gujarat, S/30 is trading at ₹3100. In Tamil Nadu, Mill trades are taking place at ₹3150 to ₹3200 excluding GST.

• International: The market was flat. London White Sugar is trading at $337.00 whereas US Sugar is trading at $12.59.
The FOB indication for raw sugar was at $307-$310 and Indian White Sugar at $318-$321.
The demand of Raw Sugar range was ₹19000-19200/mt and White Sugar ₹19600-₹19800/MT on Ex.factory basis.
• Currency & Commodity: The rupee was trading against the US dollar at 68.99 meanwhile USD traded with BRL at 3.7926, Crude Futures traded at ₹4120, WTI $59.52.

•Indices: The 30-share index opened on a positive note but soon succumbed to heavy selling pressure and closed at 38,164.61, down by 222.14 points. On similar lines, the NSE Nifty shed 64.15 points to finish at 11,456.90.

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