Today (Jan 27), the market for sugar in China is shown as follows:

The most-active contract for sugar futures fluctuate to go up on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 22 CNY/tonne higher at 5,279 CNY/tonne with the high of 5,299 CNY/tonne and the low of 5,252 CNY/tonne; nearby March contract settles 24 CNY/tonne higher at 5,239 CNY/tonne with the high of 5,257 CNY/tonne and the low of 5,211 CNY/tonne.

Spot sugar prices are mostly steady 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 no change 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 are mainly stable and partly not available. Grade I carbonized sugar is not available today in Fujian, unchanged at 5,320 CNY/tonne in Guangdong, 30 CNY/tonne higher at 5,360 CNY/tonne in Shandong, unchanged at 5,380 CNY/tonne in Liaoning and not available in Hebei.

Zhengzhou sugar futures stage modest gains in the morning. In the spot market, traders in main producing regions 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 keep range-bound in the afternoon.

(USD $1=CNY ¥6.47)