Today (Mar 5), the market for sugar in China is shown as follows:

The most-active contract for sugar futures moves downward after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 33 CNY/tonne lower at 5,452 CNY/tonne with the high of 5,560 CNY/tonne and the low of 5,430 CNY/tonne; forward September contract settles 28 CNY/tonne lower at 5,535 CNY/tonne with the high of 5,625 CNY/tonne and the low of 5,511 CNY/tonne.

Spot sugar prices keep steady with a decline today. New sugar is priced at 5,350-5,440 CNY/tonne in Guangxi, a drop of 10-20 CNY/tonne from yesterday; in Yunnan, new sugar is priced at 5,360-5,380 CNY/tonne in Kunming and 5,330-5,350 CNY/tonne in Dali with a decrease of 20 CNY/tonne from yesterday; new sugar is offered 20 CNY/tonne lower at 5,350-5,380 CNY/tonne in Zhanjiang, Guangdong; new sugar is also 20 CNY/tonne lower at 5,330 CNY/tonne in Hainan.

Processed sugar prices mostly go down in coastal regions. Grade I carbonized sugar is 50 CNY/tonne lower at 5,500 CNY/tonne in Fujian, 10 CNY/tonne lower at 5,460 CNY/tonne in Guangdong, 25 CNY/tonne lower at 5,595 CNY/tonne in Shandong, flat at 5,510 CNY/tonne in Liaoning and 10 CNY/tonne lower at 5,490 CNY/tonne in Hebei.

Zhengzhou sugar futures move lower after high opens in the morning. Due to volatility in recent futures, spot market is in quiet trading. Market participants are staying on the sideline and waiting for the moment. It is expected that spot sugar will fluctuate weakly in the afternoon.

(USD $1=CNY ¥6.49)