Today (Jan 25), the market for sugar in China is shown as follows:

The most-active contract for sugar futures extends losses on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 24 CNY/tonne lower at 5,255 CNY/tonne with the high of 5,272 CNY/tonne and the low of 5,223 CNY/tonne; nearby March contract settles 19 CNY/tonne lower at 5,215 CNY/tonne with the high of 5,231 CNY/tonne and the low of 5,181 CNY/tonne.

Spot sugar prices are mostly lower and partly not available today. New sugar is priced at 5,230-5,290 CNY/tonne in Guangxi with a decline of 20 CNY/tonne from last Friday; in Yunnan, new sugar is priced at 5,300-5,350 CNY/tonne in Kunming and 5,270-5,280 CNY/tonne in Dali with a decrease of 20-70 CNY/tonne from last Friday; new sugar is offered 20 CNY/tonne lower at 5,190-5,230 CNY/tonne in Zhanjiang, Guangdong; new sugar is also 20 CNY/tonne lower at 5,140-5,150 CNY/tonne in Hainan. Also, processed sugar prices are down from last Friday. Grade I carbonized sugar is flat at 5,370 CNY/tonne in Fujian, 20 CNY/tonne lower at 5,320 CNY/tonne in Guangdong, unchanged at 5,360 CNY/tonne in Shandong, 20 CNY/tonne lower at 5,380 CNY/tonne in Liaoning and 40 CNY/tonne lower at 5,380 CNY/tonne in Hebei.

Zhengzhou sugar futures continue the downside, and same goes for spot market. With a subdued trade in market, investors are mostly staying on the sideline and wait for the moment. It is expected that sugar market will fluctuate narrowly in the afternoon session.

(USD $1=CNY ¥6.48)