Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Thursday 16th May 2019

Domestic: The market witnessed moderate demand nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3150/Qntl, whereas in Resell, the rates are Rs.3070 to 3110. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3300. In resale, the market rates are Rs.3230 to 3280. In Gujarat, S/30 is trading at Rs.3140 to 3160. In Tamil Nadu, Mill trades are taking place at Rs.3290 to Rs.3325 excluding GST.

International: The market is steady. London White Sugar is trading at $326.30 whereas US Sugar is trading at $11.82

The FOB indication for raw sugar was at $320-$322 and Indian White Sugar at $335-$337.

The demand of Raw Sugar range was ₹20000-20200/mt and White Sugar ₹21300-₹21500/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 70.05 meanwhile USD traded with BRL at 4.002, Crude Futures traded at ₹4400, Crude WTI is trading at $62.78

Indices: Indian equities rebounded despite weak global markets, with Sensex settling 278 points higher at 37,393. Nifty climbed back ending the session at 11,257, up 100 points.

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