Daily Sugar Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Monday, 27th May 2019

Domestic: The market continued witnessing moderate demand. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, the rates are Rs.3050 to 3090. In Uttar Pradesh, Mill sales are taking place at Rs.3270 to 3320. In resale, the market rates are Rs.3260 to 3300. In Gujarat, S/30 is trading at Rs.3120 to 3160. In Tamil Nadu, Mill trades are taking place at Rs.3250 to Rs.3360 excluding GST.

International: The market is steady. London White Sugar is trading at $324.40 whereas US Sugar is trading at $11.66

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 68.60 meanwhile USD traded with BRL at 4.022, Crude Futures traded at ₹4080, Crude WTI is trading at $58.62.

Indices: Domestic equity benchmarks BSE Sensex and NSE Nifty closed at another record highs as investors continued to cheer the decisive mandate for the Narendra Modi’s BJP in the national election. The S&P BSE Sensex settled 249 points, or 0.6 per cent, higher at 39,683.

The broader Nifty 50 broke past the 11,900-mark to end the day at 11,925, up 81 points, or 0.68 per cent.

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