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Sugar prices in spot ruled almost steady on Thursday tracking weak futures markets and under pressure of lifting commodity from mills having nearby due dates.
The Vashi APMC market was closed on Thursday.
On domestic futures market, sugar prices for November-December were down by Rs 20-30 till noon.
There were no arrivals and local dispatches as transporters also joined the strike. Sentiment in physical market was slightly weak while at mill level, it remained positive, said traders.
Futures market also indicates bearish trend as crushing season will start from October.
In local markets, consumer demand is expected to rise, analysts said..
On the National Commodities and Derivatives Exchange, Oct futures dropped to Rs 3,587 (Rs 3,592), Nov Rs 3,587 (Rs 3,606) and Dec Rs 3,472 (Rs 3,501) till noon.
Maharashtra’s about 19-20 mills sold about 78,000-80,000 bags (Each of 100 kg) in the range of Rs 3,540-3,580 (Rs 3,530-3,570) for S-grade and Rs 3,630 - 3,700 (Rs 3,620-3,690) for M-grade on Tuesday evening.
In the Vashi wholesale market, spot rates were: S-grade Rs 3,625-3,695 (Rs 3,625-3,692) and M-grade Rs 3,695-3,815 (Rs 3,691-3,811). Naka delivery rates: S-grade Rs 3,595-3,640 (Rs 3,590- 3,640) and M-grade Rs 3,660-3,740 (Rs 3,660-3,740).
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