Sugar prices ruled steady on routine demand-supply on Tuesday. Domestic sugar futures were slightly weak tracking bearish mood of physical markets.

The volume was thin as producers continued selling ample in local markets.

Jagdish Rawal of B. Bhogilal and co, said: “There is ample supply from producers in the local markets. Mills are continuously selling with current market trends. Most of the quantity they are offering is of old season’s sugar”.

“There are very few producers who have started offering new crop but at a higher rate of Rs 60-70. In the absence of active consumer demand in the middle of the month, stockists are keeping away from inventory buying. Hence, overall sentiments remain dull,” he said.

A broker said that demand from neighbouring States is lacking in Maharashtra since long as prices there are at a par with Maharashtra forcing producers to depend on local markets.

The Vashi market currently stocks about 10,000-11,000 bags forcing traders to keep away from fresh bulk inventory buying. On the export front also there is no positive sign for shipments from India as world markets are bearish tracking higher production and offering from Brazil.

In Vashi market, arrivals were 65-67 truckloads (each of 100 bags) and dispatches were 60-62 loads. On Monday 18-20 mills offered tenders but due to poor response they managed to sell about 67,000 - 68,000 (each of 100 kg) bags at a steady level of Rs 3,200-3,280 (Rs 3,200-3,280) for S-grade and Rs 3,290-3,350 (Rs 3,290-3,350) for M-grade.

Bombay Sugar Merchants Association's spot rates: S-grade Rs 3,350-3,421 (Rs 3,350-3,431) and M-grade Rs 3,416-3,566 (Rs 3,416- 3,566). Naka delivery rates: S-grade Rs 3,290-3,350 (Rs 3,290-3,350) and M-grade Rs 3,360-3,510 (Rs 3,360-3,510).