Today (Jan 19), the market for sugar in China is shown as follows:

The most-active contract for sugar futures moves slightly lower on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 9 CNY/tonne lower at 5,434 CNY/tonne with the high of 5,463 CNY/tonne and the low of 5,406 CNY/tonne; nearby March contract finishes 11 CNY/tonne lower at 5,392 CNY/tonne with the high of 5,421 CNY/tonne and the low of 5,365 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 yesterday; new sugar remains flat at 5,300-5,320 CNY/tonne in Zhanjiang, Guangdong. Besides, processed sugar prices go down. Grade I carbonized sugar is unchanged at 5,460 CNY/tonne in Fujian and 5,400 CNY/tonne in Guangdong, 30 CNY/tonne lower at 5,510 CNY/tonne in Shandong, unchanged at 5,470 CNY/tonne in Liaoning and 5,450 CNY/tonne in Hebei.

Zhengzhou sugar futures fluctuate to edge down in morning trade, and spot sugar prices are mixed. Market participants are staying on the sideline. On the one hand, huge imports of sugar during December have hammered market sentiment. On the other side, a blue alert for frost in Guangxi has been issued, raising market concerns over the weather condition. In a hybrid of the bull and the bear, sugar market is predicted to keep range-bound in the afternoon.

(USD $1=CNY ¥6.49)