Today (Jan 28), the market for sugar in China is shown as follows:

The most-active contract for sugar futures edges down after high opens on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 49 CNY/tonne lower at 5,228 CNY/tonne with the high of 5,310 CNY/tonne and the low of 5,211 CNY/tonne; nearby March contract settles 47 CNY/tonne lower at 5,189 CNY/tonne with the high of 5,268 CNY/tonne and the low of 5,171 CNY/tonne.

Spot sugar prices move lower today. New sugar is priced at 5,220-5,280 CNY/tonne in Guangxi with a decrease of 10 CNY/tonne from yesterday; in Yunnan, new sugar is priced at 5,280-5,320 CNY/tonne in Kunming and 5,230-5,250 CNY/tonne in Dali with a decline of 20 CNY/tonne from yesterday; new sugar is offered 10 CNY/tonne lower at 5,180-5,220 CNY/tonne in Zhanjiang, Guangdong; new sugar is also 10 CNY/tonne lower at 5,130-5,140 CNY/tonne in Hainan. Also, processed sugar prices mostly slip. Grade I carbonized sugar is not available in Fujian, 10 CNY/tonne lower at 5,310 CNY/tonne in Guangdong, 30 CNY/tonne higher at 5,390 CNY/tonne in Shandong, 30 CNY/tonne lower at 5,350 CNY/tonne both in Liaoning and Hebei.

Zhengzhou sugar futures post distinct losses in the morning. Spot prices steadily decline. 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 still run weakly in the afternoon.

(USD $1=CNY ¥6.48)