Today (Mar 12), the market for sugar in China is shown as follows:

The most-active contract for sugar futures further rises after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 51 CNY/tonne higher at 5,418 CNY/tonne with the high of 5,420 CNY/tonne and the low of 5,370 CNY/tonne; forward September contract settles 55 CNY/tonne higher at 5,509 CNY/tonne with the high of 5,510 CNY/tonne and the low of 5,460 CNY/tonne.

Spot sugar prices generally edge higher today. New sugar is priced at 5,320-5,410 CNY/tonne in Guangxi, an increase of 10 CNY/tonne from yesterday; in Yunnan, new sugar is priced at 5,330-5,350 CNY/tonne in Kunming and 5,300-5,320 CNY/tonne in Dali, up 10 CNY/tonne from yesterday; new sugar is offered 10 CNY/tonne higher at 5,320-5,350 CNY/tonne in Zhanjiang, Guangdong; new sugar is 20 CNY/tonne higher at 5,300 CNY/tonne in Hainan.

Processed sugar prices keep steady with a rise in coastal regions. Grade I carbonized sugar is 20 CNY/tonne higher at 5,500 CNY/tonne in Fujian, 10 CNY/tonne higher at 5,430 CNY/tonne in Guangdong, 55 CNY/tonne higher at 5,540 CNY/tonne in Shandong, 30 CNY/tonne higher at 5,460 CNY/tonne both in Liaoning and Hebei.

Zhengzhou sugar futures fluctuate to continue growing after opening high. Spot market is still in quiet trading as market participants are staying on the sideline and waiting for the moment. Some traders maintain prices unchanged. It is expected that sugar price will still fluctuate narrowly in the afternoon.

(USD $1=CNY ¥6.48)