Today (Jan 18), the market for sugar in China is shown as follows:

The most-active contract for sugar futures maintain the momentum after high opens on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 50 CNY/tonne higher at 5,438 CNY/tonne with the high of 5,490 CNY/tonne and the low of 5,413 CNY/tonne; nearby March contract finishes 52 CNY/tonne higher at 5,398 CNY/tonne with the high of 5,448 CNY/tonne and the low of 5,372 CNY/tonne.

Spot sugar prices are mostly steady and partly mixed today. New sugar is steadily priced at 5,330-5,380 CNY/tonne in Guangxi; in Yunnan, new sugar is priced at 5,370-5,420 CNY/tonne in Kunming and 5,330-5,340 CNY/tonne in Dali with no change from last Friday; new sugar is offered at 5,300-5,320 CNY/tonne with an increase of 20 CNY/tonne in Zhanjiang, Guangdong. Likewise, processed sugar prices mostly go up. Grade I carbonized sugar is 40 CNY/tonne higher at 5,460 CNY/tonne in Fujian, 20 CNY/tonne higher at 5,400 CNY/tonne in Guangdong, 10 CNY/tonne higher at 5,540 CNY/tonne in Shandong, 20 CNY/tonne higher at 5,470 CNY/tonne in Liaoning, and unchanged at 5,450 CNY/tonne in Hebei.

Zhengzhou sugar futures move higher in morning trade. Domestic sugar prices mainly keep steady and processed sugar prices slightly go up. Some traders make on-demand purchases according to their inventories. However, due to a sharp rise of sales last week and strict traffic control amid the coronavirus pandemic, sugar mills need to take deliveries in line. Consequently, the deliveries are impacted. Sugar market is predicted to stay strong in the afternoon.

(USD $1=CNY ¥6.48)