"I heard that India definitely bought some cargoes, maybe from Australia, but a lot of people are being tight-lipped about it," said a senior analyst for a brokerage house.
A trading house manager added, "The Indians appear to be the only ones who have done something. Their (sugar) crop is looking pretty awful and even more so next year."
Last week, dealers in Europe said inquiries from India underpinned the cash sugar market. They said that more than 500,000 tonnes of sugar could be in storage in refiners in Dubai and may ultimately be bound for India.
One analyst said India may have decided to step into the market as conditions for their crop in 2003/04 worsened and looks dismal even for next year.
India has said it has no plans to import sugar this year and will bank on stocks built up over the years.
But its output for the 2004/05 season starting in October is seen falling to 12.5 million tonnes while consumption is said to hit some 18 million tonnes.
Brokers said total Indian imports will likely range from 1.4 million to 1.5 million tonnes. "It used to be people were thinking of 1.0 million, but it's been creeping up as the weeks go by," one said.
Some brokers said China may book a cargo of sugar as internal prices there firmed, which would be a sign that stocks were lower than expected by the trade.
"The Chinese could buy a cargo or two, but it's getting pretty close to the time when they will start crushing their own crop," an analyst said.
The Chinese cane crush normally gets under way in October.
Despite faint hopes of Chinese activity, the level of dealings from China and Russia, normally the world's biggest sugar importer, has been disappointing by far, dealers said.
"Both have been non-factors in this market," one said.
"It's been slow getting those two to move," another dealer said, adding the beet harvest in Russia and China's crushing season may preclude further activity from the two nations.
Cash sugar differentials remained steady as routine demand was offset by supplies from the ongoing harvest in top producer Brazil.
Differentials for raw sugar from Brazil's center-south region were seen at 5 points to 10 points below the New York Board of Trade raw sugar market for September/October shipment, from 5 points to 25 points below last week.
Quotes for ICUMSA 150 sugar were seen at $40 to $45 below the Liffe white sugar market, virtually unchanged from last week's level.