Sugar prices on the Vashi wholesale market ruled steady on Tuesday as demand eased and supply was ample. Millers continued selling at the market rate due to higher production and less than expected demand. Active buying by neighbouring States is absent in Maharashtra, forcing producers to concentrate on local markets. Spot, naka and mill tender rates were unchanged. Prices were range-bound in the domestic futures market nt. A Vashi-based wholesaler said that the local retail demand has eased. Routine need-based buying sentiment kept activities normal. The supply from mills and ample stocks with stockists kept buyers away from building fresh inventories. Local retail demand will be lower or ease till month end. Monsoon is expected to play a lead role in the coming days. In the Vashi market arrivals were 50-52 truckloads and local dispatches were 48-50 loads. On Monday 12-13 mills offered tenders and sold 38,000- 40,000 bags to local traders in the range of Rs 2,820-2,870 (Rs 2,820-2,870) for S-grade and Rs 2,900-2,980 (Rs 2,900-2,980) for M-grade.

The Bombay Sugar Merchants Association's spot rates were (Rs/quintal): S-grade Rs 2,932-2,991 (Rs 2,932-2,991) and M-grade Rs 3,000- 3,181 (Rs 3,032-3,181).

Naka delivery rates: S-grade Rs 2,900-2,940 (Rs 2,900-2,940) and M-grade Rs 2,950-3,050 (Rs 2,950-3,050).