Today (Jan 13), the market for sugar in China is shown as follows:

The most-active contract for sugar futures on China’s Zhengzhou Commodity Exchange finishes marginally higher. As of 11:30 am, the most-active May contract settles 9 CNY/tonne higher at 5,215 CNY/tonne with the high of 5,222 CNY/tonne and the low of 5,170 CNY/tonne; nearby March contract closes 6 CNY/tonne higher at 5,175 CNY/tonne with the high of 5,183 CNY/tonne and the low of 5,130 CNY/tonne.

Spot sugar prices mostly go down today. New sugar is priced at 5,150-5,220 CNY/tonne in Guangxi with a decrease of 20-30 CNY/tonne; in Yunnan, new sugar is 10 CNY/tonne lower at 5,270-5,310 CNY/tonne in Kunming and 5,200-5,280 CNY/tonne in Dali; new sugar is offered at 5,140-5,210 CNY/tonne with a decline of 20-30 CNY/tonne in Zhanjiang, Guangdong. Likewise, processed sugar prices keep steady today. Grade I carbonized sugar is 20 CNY/tonne lower at 5,330 CNY/tonne in Fujian and 5,270 CNY/tonne in Guangdong; flat at 5,300 CNY/tonne in Shandong, 5,290 CNY/tonne in Liaoning, and 5,290 CNY/tonne in Hebei. Besides, beet sugar remains flat at 5,140 CNY/tonne in Inner Mongolia.

Zhengzhou sugar futures fluctuate and edge up in morning trade, while spot markets move lower. Market participants stay on the sideline and just a few traders take actions on the dips. Due to a lack of appetite for purchases, spot sugar market is predicted to keep range-bound at the low level in the afternoon.

(USD $1=CNY ¥6.46)