Today (Mar 9), the market for sugar in China is shown as follows:

The most-active contract for sugar futures retreats after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 31 CNY/tonne lower at 5,392 CNY/tonne with the high of 5,435 CNY/tonne and the low of 5,364 CNY/tonne; forward September contract settles 32 CNY/tonne lower at 5,481 CNY/tonne with the high of 5,515 CNY/tonne and the low of 5,455 CNY/tonne.

Spot sugar prices continue dwindling today. New sugar is priced at 5,330-5,420 CNY/tonne in Guangxi, a drop of 10 CNY/tonne from yesterday; in Yunnan, new sugar is priced at 5,340-5,360 CNY/tonne in Kunming and 5,310-5,330 CNY/tonne in Dali with a decline of 20 CNY/tonne; new sugar is offered 10 CNY/tonne lower at 5,330-5,370 CNY/tonne in Zhanjiang, Guangdong; new sugar is also 10 CNY/tonne lower at 5,310 CNY/tonne in Hainan.

Processed sugar prices mostly go down in coastal regions. Grade I carbonized sugar is 40 CNY/tonne lower at 5,480 CNY/tonne in Fujian, 10 CNY/tonne lower at 5,440 CNY/tonne in Guangdong, 90 CNY/tonne higher at 5,510 CNY/tonne in Shandong, 10 CNY/tonne lower at 5,460 CNY/tonne in Liaoning and 5,460 CNY/tonne in Hebei.

Zhengzhou sugar futures fluctuate to fall in the morning. Sugar prices in producing and selling regions also follow the downside. Spot market is in quiet trading as market participants are staying on the sideline and waiting for the moment. It is expected that sugar price will still fluctuate narrowly at the low level in the afternoon.

(USD $1=CNY ¥6.53)