Today (Feb 5), 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 24 CNY/tonne higher at 5,331 CNY/tonne with the high of 5,349 CNY/tonne and the low of 5,291 CNY/tonne; nearby March contract settles 27 CNY/tonne higher at 5,281 CNY/tonne with the high of 5,300 CNY/tonne and the low of 5,242 CNY/tonne.

Spot sugar prices mainly stand steady today. New sugar is steadily priced at 5,240-5,300 CNY/tonne in Guangxi; 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 no change from yesterday; new sugar is unchangeably offered at 5,170-5,230 CNY/tonne in Zhanjiang, Guangdong; new sugar remains flat at 5,150-5,170 CNY/tonne in Hainan. Likewise, processed sugar prices are steady. Grade I carbonized sugar is unchanged at 5,400 CNY/tonne in Fujian, 5,330 CNY/tonne in Guangdong, 5,470 CNY/tonne in Shandong, 5,370 CNY/tonne in Liaoning and 5,360 CNY/tonne in Hebei.

Zhengzhou sugar futures finished higher in the morning. Spot prices stay stable. Downstream buyers are about to complete the stockpiling. It is expected that cash market will keep range-bound in the afternoon.

(USD $1=CNY ¥6.47)