Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Monday 22nd April 2019

• Domestic: The week began with the market witnessing improvement. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3130/Qntl, whereas in Resell, the rates are Rs.3025 to 3050. In Uttar Pradesh, Mill sales are taking place at Rs.3180 to 3230. In resale, the market rates are Rs.3170 to 3210. In Gujarat, S/30 is trading at Rs.3120 to 3130. In Tamil Nadu mill trades are taking place at Rs.3300 to 3325

• International: The market is witnessing flatness. London White Sugar is trading at $338.70 whereas US Sugar is trading at $12.76.
The FOB indication for raw sugar was at $308-$310 and Indian White Sugar at $318-$320. The demand of Raw Sugar range was ₹19200-19400/mt and White Sugar ₹19800-₹20000/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.67 meanwhile USD traded with BRL at 3.920, Crude Futures traded at ₹4573, WTI $65.39

• Indices: The BSE Sensex crashed over 495 points and the NSE Nifty shed more than 158 points as macroeconomic worries resurfaced following reports that US will end sanctions waiver on Iranian oil imports. The 30-share BSE index settled 495.10 point lower at 38,645.18; while the broader NSE Nifty tumbled 158.35 points to close at 11,594.45.

SOURCEChiniMandi

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