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

The most-active contract for sugar futures continues the decline after opening low on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 96 CNY/tonne lower at 5,405 CNY/tonne with the high of 5,517 CNY/tonne and the low of 5,353 CNY/tonne; nearby March contract settles 103 CNY/tonne lower at 5,355 CNY/tonne with the high of 5,462 CNY/tonne and the low of 5,340 CNY/tonne.

Spot sugar prices fall from yesterday with small orders traded. New sugar is priced at 5,390-5,470 CNY/tonne in Guangxi, a decrease of 10 CNY/tonne from yesterday; in Yunnan, new sugar is priced at 5,390-5,400 CNY/tonne in Kunming and 5,360-5,370 CNY/tonne in Dali with no change from yesterday; new sugar is offered unchanged at 5,380-5,420 CNY/tonne in Zhanjiang, Guangdong; new sugar is also flat at 5,360 CNY/tonne in Hainan.

Processed sugar prices keep steady with a decline in coastal regions. Grade I carbonized sugar is 50 CNY/tonne lower at 5,550 CNY/tonne in Fujian, 30 CNY/tonne lower at 5,470 CNY/tonne in Guangdong, 125 CNY/tonne lower at 5,550 CNY/tonne in Shandong, 50 CNY/tonne lower at 5,480 CNY/tonne in Liaoning and 5,470 CNY/tonne in Hebei.

Zhengzhou sugar futures continue falling with low opens in the morning. Cash prices mostly edge down. Market participants are staying on the sideline and waiting for the moment. It is expected that spot sugar will keep range-bound in the afternoon.

(USD $1=CNY ¥6.47)