Today (Mar 11), the market for sugar in China is shown as follows:

The most-active contract for sugar futures opens unchanged from the previous close and then goes up with fluctuations on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 17 CNY/tonne higher at 5,362 CNY/tonne with the high of 5,382 CNY/tonne and the low of 5,342 CNY/tonne; forward September contract settles 18 CNY/tonne higher at 5,450 CNY/tonne with the high of 5,468 CNY/tonne and the low of 5,427 CNY/tonne.

Spot sugar prices stay stable with a partial decrease today. New sugar is priced at 5,310-5,400 CNY/tonne in Guangxi, a descent of 20 CNY/tonne from yesterday; in Yunnan, new sugar is priced at 5,320-5,340 CNY/tonne in Kunming and 5,290-5,310 CNY/tonne in Dali, flat from yesterday; new sugar is offered 20 CNY/tonne lower at 5,310-5,350 CNY/tonne in Zhanjiang, Guangdong; new sugar is also 20 CNY/tonne lower at 5,290 CNY/tonne in Hainan.

Processed sugar prices partly go down in coastal regions. Grade I carbonized sugar is flat at 5,480 CNY/tonne in Fujian, 20 CNY/tonne lower at 5,420 CNY/tonne in Guangdong, 10 CNY/tonne higher at 5,485 CNY/tonne in Shandong, both unchanged at 5,430 CNY/tonne in Liaoning and Hebei.

Zhengzhou sugar futures fluctuate to slightly rise 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 ¥6.50)