Today (Feb 22), the market for sugar in China is shown as follows:

The most-active contract for sugar futures set modest gains on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 13 CNY/tonne higher at 5,425 CNY/tonne with the high of 5,455 CNY/tonne and the low of 5,414 CNY/tonne; nearby March contract settles 21 CNY/tonne higher at 5,376 CNY/tonne with the high of 5,402 CNY/tonne and the low of 5,367 CNY/tonne.

Spot sugar prices mainly keep steady with a slight increase today. New sugar is priced at 5,320-5,370 CNY/tonne in Guangxi, flat from last Saturday; in Yunnan, new sugar is priced at 5,320-5,380 CNY/tonne in Kunming and 5,270-5,290 CNY/tonne in Dali, unchanged; new sugar is steadily offered at 5,300-5,320 CNY/tonne in Zhanjiang, Guangdong; new sugar also remains flat at 5,270 CNY/tonne in Hainan. Likewise, processed sugar prices stay stable with a rise from last Saturday. Grade I carbonized sugar is 20 CNY/tonne higher at 5,500 CNY/tonne in Fujian, unchanged at 5,400 CNY/tonne in Guangdong, 20 CNY/tonne higher at 5,580 CNY/tonne in Shandong, 10 CNY/tonne higher at 5,430 CNY/tonne in Liaoning and unchanged at 5,430 CNY/tonne in Hebei.

Zhengzhou sugar futures narrow the gains in the morning. Some traders said that market trading was decent as downstream enterprises were active in returning to work and make purchase. But the supply in market areas has also increased as sugar boatloads bought during holidays have arrived at ports in succession. It is expected that spot prices of sugar will keep range-bound in the afternoon.

(USD $1=CNY ¥6.46)