Today (Mar 15), the market for sugar in China is shown as follows:

The most-active contract for sugar futures moves lower after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 66 CNY/tonne lower at 5,346 CNY/tonne with the high of 5,419 CNY/tonne and the low of 5,335 CNY/tonne; forward September contract settles 66 CNY/tonne lower at 5,435 CNY/tonne with the high of 5,515 CNY/tonne and the low of 5,424 CNY/tonne.

Spot sugar prices partly decrease today. New sugar is priced at 5,320-5,390 CNY/tonne in Guangxi, a decline of 10-20 CNY/tonne from last Friday; in Yunnan, new sugar is priced at 5,330 CNY/tonne in Kunming and 5,300 CNY/tonne in Dali, down 20 CNY/tonne from last Friday; new sugar is unchanged at 5,320-5,350 CNY/tonne in Zhanjiang, Guangdong; new sugar also remains flat at 5,300 CNY/tonne in Hainan.

Processed sugar prices mostly go down in coastal regions. Grade I carbonized sugar is 20 CNY/tonne lower at 5,480 CNY/tonne in Fujian, 10 CNY/tonne lower at 5,420 CNY/tonne in Guangdong, 40 CNY/tonne lower at 5,490 CNY/tonne in Shandong, unchanged at 5,460 CNY/tonne in Liaoning and 20 CNY/tonne lower at 5,450 CNY/tonne in Hebei.

Zhengzhou sugar futures edge down after opening high. Spot market is still 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 in the afternoon.

(USD $1=CNY ¥6.50)