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ChiniMandi, Mumbai – Monday 18th February 2019
Domestic: Nationwide the market had poor demand. As anticipated millers are desperate to sell out sugar. In Maharashtra, Millers opened sales at ₹3100 to ₹3125. In resell S/30 is trading at ₹3030 to ₹3050. In Uttar Pradesh,millers chopped their rates by ₹40 to ₹50. M/30 sugar is trading at ₹3130 to ₹3230. In Gujarat, S/30 is trading at ₹3160 to 3180. In Chennai S/30 is trading at ₹3500 to ₹3540 inclusive GST.
• International: The demand was good with improvements in Rupee Dollar trade and London Sugar trading high.
London White Sugar is trading at $357.00 whereas US Sugar is trading at $13.14.
The FOB indication for raw sugar was at $305-$307 and Indian White Sugar at $316-$318.
The demand of Raw Sugar range was ₹19000-19200/mt and White Sugar ₹19700-₹20000/MT on Ex.factory basis.
• Currency & Commodity: The rupee was trading against the US dollar at 71.365, meanwhile USD traded with BRL at 3.7168,, Crude Futures traded at ₹3991, WTI $56.26.
• Looking at indices, falling for the eighth straight session, the BSE Sensex plunged over 311 points Monday on heavy selling in banking, FMCG, IT, auto and pharma stocks amid sustained foreign fund outflows.The 30-share index settled 310 points lower at 35,498. The broader NSE Nifty fell 83 points to close at 10,640.
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