Today (Jan 26), the market for sugar in China is shown as follows:

The most-active contract for sugar futures closed slightly higher on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 12 CNY/tonne higher at 5,268 CNY/tonne with the high of 5,273 CNY/tonne and the low of 5,231 CNY/tonne; nearby March contract settles 13 CNY/tonne higher at 5,228 CNY/tonne with the high of 5,231 CNY/tonne and the low of 5,190 CNY/tonne.

Spot sugar prices are mostly steady and partly lower today. New sugar is steadily priced at 5,230-5,290 CNY/tonne in Guangxi; in Yunnan, new sugar is priced at 5,300-5,340 CNY/tonne in Kunming and 5,270 CNY/tonne in Dali with a decrease of 10 CNY/tonne from yesterday; new sugar is unchangeably offered at 5,190-5,230 CNY/tonne in Zhanjiang, Guangdong; new sugar is also unchanged at 5,140-5,150 CNY/tonne in Hainan. Also, processed sugar prices drop from yesterday. Grade I carbonized sugar is 20 CNY/tonne lower at 5,350 CNY/tonne in Fujian, unchanged at 5,320 CNY/tonne in Guangdong, 30 CNY/tonne lower at 5,330 CNY/tonne in Shandong, unchanged at 5,380 CNY/tonne in Liaoning and 5,380 CNY/tonne in Hebei.

Zhengzhou sugar futures stop declining and recover slightly in the morning. In the spot market, traders mostly make sugar prices stabilized, seeing a bit of fall. 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.

(USD $1=CNY ¥6.48)