Today (Mar 1), the market for sugar in China is shown as follows:

The most-active contract for sugar futures moves lower after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 9 CNY/tonne lower at 5,419 CNY/tonne with the high of 5,448 CNY/tonne and the low of 5,340 CNY/tonne; nearby March contract is not traded tentatively.

Spot sugar prices fall from last Friday with small orders traded. New sugar is priced at 5,370-5,450 CNY/tonne in Guangxi, a decrease of 20 CNY/tonne from last Friday; in Yunnan, new sugar is priced at 5,370-5,380 CNY/tonne in Kunming and 5,340-5,350 CNY/tonne in Dali with a decline of 20 CNY/tonne from last Friday; new sugar is offered 20 CNY/tonne lower at 5,360-5,400 CNY/tonne in Zhanjiang, Guangdong; new sugar is also 20 CNY/tonne lower at 5,340 CNY/tonne in Hainan.

Processed sugar prices keep steady with a decline in coastal regions. Grade I carbonized sugar is 30 CNY/tonne lower at 5,520 CNY/tonne in Fujian, unchanged at 5,470 CNY/tonne in Guangdong, 20 CNY/tonne higher at 5,570 CNY/tonne in Shandong, not available both in Liaoning (5,480 CNY/tonne on Feb 26) and in Hebei (5,470 CNY/tonne on Feb 26).

Zhengzhou sugar futures fluctuate to fall in the morning. Cash prices generally edge down. Market participants are staying on the sideline and waiting for the moment. Raw sugar futures have fallen for three consecutive days after hitting a four-year high. It is expected that spot sugar will keep range-bound in the afternoon.

(USD $1=CNY ¥6.48)