Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Friday 15th February 2019

Domestic: The market witnessed positive sentiments nationwide, the demand was also noticeably good. In Maharashtra, Millers opened sales at ₹3100. In resell S/30 is trading at ₹3020 to ₹3030. In Uttar Pradesh, M/30 sugar is trading at ₹3200 to ₹3260. In Gujarat, S/30 is trading at ₹3150 to 3180.

International: Though the MSP is hiked, no major movement was witnessed. London White Sugar is trading at $345.10 whereas US Sugar is trading at $12.74.

The FOB indication for raw sugar was at $300-$303 and Indian White Sugar at $311-$314
The demand of Raw Sugar range was ₹18500-18700/mt and White Sugar ₹19200-₹19400/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 71.24, meanwhile USD traded with BRL at 3.7185, Crude Futures traded at ₹3900 WTI $54.72

Looking at indices, The 30-share Sensex after slumping 365 points to hit recouped most of the lost ground on fag-end buying, and finally settled with a modest fall of 67.27 points at 35,808. The broader NSE Nifty settled at 10,724 points, down by 21 points

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