Today (Jan 14), the market for sugar in China is shown as follows:

The most-active contract for sugar futures on China’s Zhengzhou Commodity Exchange extends gains after high opens. As of 11:30 am, the most-active May contract settles 59 CNY/tonne higher at 5,270 CNY/tonne with the high of 5,288 CNY/tonne and the low of 5,229 CNY/tonne; nearby January contract closes 15 CNY/tonne higher at 5,200 CNY/tonne with the high of 5,252 CNY/tonne and the low of 5,200 CNY/tonne.

Spot sugar prices are mixed today. New sugar is priced at 5,170-5,250 CNY/tonne in Guangxi with an increase of 20-30 CNY/tonne; in Yunnan, new sugar is unchanged at 5,270-5,310 CNY/tonne in Kunming and 5,200-5,280 CNY/tonne in Dali; new sugar is offered at 5,160-5,210 CNY/tonne with an increase of 20 CNY/tonne in Zhanjiang, Guangdong. Likewise, processed sugar prices go up today. Grade I carbonized sugar is 20 CNY/tonne higher at 5,350 CNY/tonne in Fujian, 10 CNY/tonne higher at 5,280 CNY/tonne in Guangdong, 50 CNY/tonne higher at 5,350 CNY/tonne in Shandong, 30 CNY/tonne higher at 5,320 CNY/tonne in Liaoning, and 10 CNY/tonne higher at 5,300 CNY/tonne in Hebei. Besides, beet sugar is up 50 CNY/tonne to 5,200 CNY/tonne in Inner Mongolia.

Zhengzhou sugar futures maintain a rally in morning trade, while cash prices are mixed. Market participants are in different attitudes and mostly make on-demand purchases. Sugar market is predicted to fluctuate at a narrow range in the afternoon.

(USD $1=CNY ¥6.47)