Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Thursday 2nd May 2019

• Domestic: In Maharashtra, Mills are opening their rates at Rs.3110 to Rs.3150/Qntl, whereas in Resell, the rates are Rs.3060 to 3090. 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.3140 to 3150. In Tamil Nadu, Mill trades are taking place at Rs.3330 to Rs.3400 excluding GST.

• International: The market is flat. London White Sugar is trading at $329.50 whereas US Sugar is trading at $12.19
The FOB indication for raw sugar was at $314-$316 and Indian White Sugar at $322-$325.

The demand of Raw Sugar range was ₹19800-20000/mt and White Sugar ₹20300-₹20500/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading against the US dollar at 69.66 meanwhile USD traded with BRL at 3.920, Crude Futures traded at ₹4376, Crude WTI is trading at $62.91

•Indices: Equity benchmarks Sensex and Nifty ended on a negative note after a volatile session Thursday as weakness in banking and auto stocks weighed on investor sentiment amid mixed global cues. The BSE Sensex settled 50.12 points lower at 38,981.43. In similar movement, the broader NSE Nifty slipped 23.40 points to close at 11,724.75.

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