Daily Sugar Market Update By ‘Vizzie’

 

 

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ChiniMandi, Mumbai – Monday 20th May 2019

Domestic: The market witnessed moderate demand nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, the rates are Rs.3060 to 3100. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3300. In resale, the market rates are Rs.3220 to 3270. In Gujarat, S/30 is trading at Rs.3120 to 3160. In Tamil Nadu, Mill trades are taking place at Rs.3300 to Rs.3360 excluding GST.

International: The market is steady. London White Sugar is trading at $323.90 whereas US Sugar is trading at $11.67
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 69.72 meanwhile USD traded with BRL at 4.101; Crude Futures traded at ₹4377, Crude WTI is trading at $63.09

Indices: Following the exit poll predictions that the NDA will come back to power with a simple majority, the Sensex embarked on a mother of all rallies via a 1,421 point rise in a single day to close at 39,352.67, while Nifty close at 11,828.25 with a rise of 421.10 points.

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