ChiniMandi, Mumbai: Thursday, 3rd September 2020
Domestic Market: The market was stable nationwide. No major movement was witnessed nationwide.
In Maharashtra: S/30 Sugar rates from millers are ₹3140 to ₹3160/Qntl whereas M/30 ₹3240 to 3260
South Karnataka: S/30 Sugar rates are ₹3340 to 3400 whereas, M/30 rates are ₹3365 to ₹3450.
Uttar Pradesh: The rates for M/30 are ₹3390 to 3410/Qntl.
Gujarat: The rates for New S/30 are ₹3231 to 3235 whereas M/30 are at ₹3251 to 3261/Qntl.
Tamil Nadu: S/30 Sugar rates are ₹3390 to 3450 whereas, M/30 rates are ₹3450 to 3500.
(All the above rates are excluding GST)
International Market: According to reports, on Wednesday sugar prices posted moderate losses, with New York sugar falling to a 3-week low on negative carry-over from Tuesday when the International Sugar Organization (ISO) boosted its global 2020/21 sugar production estimates. The ISO projects that global 2020/21 sugar production will increase by +2.3% y/y to 173.5 MMT. Crude oil prices also fell nearly -3.0% to a 3-week low, which undercuts ethanol prices and is negative for sugar prices.
London White Sugar front month contract is trading at $355.60/tn, whereas New York Sugar front month contract is trading at 12.26/lb at the time of writing this update.
Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 73.531 whereas USD is trading with BRL at 5.3408, Crude futures traded at Rs.3002, Crude WTI traded at $40.80 a barrel. Indian Indices ended in the red. Sensex closed 95.09 points lower at 39,990.94 whereas Nifty ended 7.55 points lower at 11,527.45.
To Listen to this News click on the play button.
