Today (Jan 21), the market for sugar in China is shown as follows:

The most-active contract for sugar futures extends losses after low opens on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 28 CNY/tonne lower at 5,337 CNY/tonne with the high of 5,355 CNY/tonne and the low of 5,331 CNY/tonne; nearby March contract finishes 23 CNY/tonne lower at 5,294 CNY/tonne with the high of 5,313 CNY/tonne and the low of 5,289 CNY/tonne.

Spot sugar prices are mostly steady and partly mixed today. New sugar is unchangeably priced at 5,290-5,340 CNY/tonne in Guangxi; in Yunnan, new sugar is priced at 5,370-5,400 CNY/tonne in Kunming and 5,310-5,320 CNY/tonne in Dali with no change from yesterday; new sugar is offered 10 CNY/tonne lower at 5,240-5,260 CNY/tonne in Zhanjiang, Guangdong. Besides, processed sugar prices mostly go down. Grade I carbonized sugar is unchanged at 5,420 CNY/tonne in Fujian and 5,370 CNY/tonne in Guangdong, 10 CNY/tonne lower at 5,440 CNY/tonne in Shandong, unchanged at 5,420 CNY/tonne in Liaoning and 5,450 CNY/tonne in Hebei.

Zhengzhou sugar futures continue fluctuating to fall but cash market is mixed. The stockpiling for sugar is on-going and the deliveries in sugar factories slow own amid the coronavirus pandemic, leading to a tight supply in sales area. Although sugar market has fallen and fluctuated after early strong rally, it will stay strong at the high level on the whole before the Chinese New Year.

(USD $1=CNY ¥6.47)