Sugar prices ruled steady at all levels as producers continued selling and demand continued to be limited. Ample supply from mills to ease old inventories in view of production picking up for the current season kept prices on leash, said sources.

In the Vashi wholesale market, spot prices were unchanged with volumes being lower on slack demand.Naka trades were thin at steady price level.

Mills continued selling old stocks at discount but are holding the price of new stocks. From next week, local demand is expected to improve and it may give some respite. In the last three weeks, volumes and price movement seems to at a standstill in the physical market.

Analyst said that Vashi market carries more than 110-115 truckloads of stocks currently and supply is ample from producers.

Prices in other main producing centres are ruling at a par with Maharashtra keeping upcountry buyers away from here. Local mills have no choice other than State markets to sale commodity.

Arrivals at Vashi market were 60-62 truckloads (of 100 bags each) while local dispatches were 58-59 loads.

On Wednesday, 17-18 mills sold 47,000-48,000 bags at Rs 2,650-2,750 (Rs 2,650-2,750) for S-grade and Rs 2,750-3,000 (Rs 2,750-3,000) for M-grade.

Bombay Sugar Merchants Association’s spot rates were: S-grade Rs 2,846-3,002 (Rs 2,846-3,002) and M-grade Rs 2,971-3,172 (Rs 2,971-3,171). Naka delivery rates were: S-grade Rs 2,810-80 (Rs 2,810-80) and M-grade Rs 2,950-3,100 (Rs 2,950-3,100). Uttar Pradesh rates were:Muzzafarnagar Rs 3,170 and Hapur Rs 3,250.