Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Monday 6th May 2019

Domestic: The market witnessed moderate demand nationwide. 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.3210 to 3260. In resale, the market rates are Rs.3200 to 3240. 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 $327.40 whereas US Sugar is trading at $12.00

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 69.59 meanwhile USD traded with BRL at 3.939, Crude Futures traded at ₹4277, Crude WTI is trading at $61.47

Indices: The BSE Sensex Monday cracked over 362.92 points lower at 38,600.34  in line with global sell-offs amid renewed fears that trade negotiations between the US and China are on the verge of collapse. The broader NSE Nifty closed 114 points, or 0.97 per cent, down at 11,598.25.

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