Today (Mar 3), the market for sugar in China is shown as follows:

The most-active contract for sugar futures moves up after opening high on China’s Zhengzhou Commodity Exchange, hitting the highest of 5,500 CNY/tonne level. As of 11:30 am, the most-active May contract ended 56 CNY/tonne higher at 5,487 CNY/tonne with the high of 5,512 CNY/tonne and the low of 5,417 CNY/tonne; forward September contract settles 56 CNY/tonne higher at 5,572 CNY/tonne with the high of 5,595 CNY/tonne and the low of 5,572 CNY/tonne.

Spot sugar prices keep steady with a rise today. New sugar is priced at 5,370-5,450 CNY/tonne in Guangxi, flat from yesterday; in Yunnan, new sugar is priced at 5,380-5,400 CNY/tonne in Kunming and 5,350-5,370 CNY/tonne in Dali with an increase of 10-20 CNY/tonne from yesterday; new sugar is offered at 5,370-5,400 CNY/tonne in Zhanjiang, Guangdong and up 10 CNY/tonne from the low level; new sugar is 10 CNY/tonne higher at 5,350 CNY/tonne in Hainan.

Processed sugar prices mostly go up in coastal regions. Grade I carbonized sugar is 40 CNY/tonne higher at 5,560 CNY/tonne in Fujian, 10 CNY/tonne higher at 5,470 CNY/tonne in Guangdong, 80 CNY/tonne higher at 5,650 CNY/tonne in Shandong, 50 CNY/tonne higher at 5,500 CNY/tonne in Liaoning and 80 CNY/tonne higher at 5,530 CNY/tonne in Hebei.

Zhengzhou sugar futures sharply rise in the morning. Spot prices stay stable with a partial increase. Market participants are staying on the sideline and waiting for the moment, seeing an off-season in trading. And traders mostly make sales in line with market conditions. It is expected that spot sugar will still fluctuate at a narrow range in the afternoon.

(USD $1=CNY ¥6.46)