Daily Sugar Market Update By Vizzie – 19/02/2022

ChiniMandi, Mumbai: 19th February 2022
Domestic Market Update

Indian Sugar Production Update by ISMA
According to the Indian Sugar Mills Association (ISMA), as on 15th February 2022, 220.91 lac tons of sugar have been produced by the mills, as compared to 209.11 lac tons produced on the corresponding date of last year. Out of 516 sugar mills which had started crushing in 2021-22 SS, 13 sugar mills have stopped their crushing operations so far. Last year, 496 sugar mills had operated, out of which 32 had stopped crushing on the corresponding date last year.

Domestic Trade Market

State wise prices today:

According to marketmen the demand has been moderate. Maharashtra market remained closed on occasion of Shiv Jayanti.

International Trade Market
Sugar prices closed moderately lower. According to a leading market expert, the technical picture continues to look negative. The market looks like it is working in a descending triangle with the base located at 17.50 and the downtrend at 17.78. A close below 17.50 points to an even lower price target of 15.86.

Yesterday, London white sugar #5 (SWH22) closed down $0.10 at $484.90/ton whereas US sugar #11 (SBH22) closed down 0.08 points at 18.20 c/lb