Today (Mar 17), 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 45 CNY/tonne higher at 5,385 CNY/tonne with the high of 5,385 CNY/tonne and the low of 5,346 CNY/tonne; forward September contract settles 34 CNY/tonne higher at 5,461 CNY/tonne with the high of 5,461 CNY/tonne and the low of 5,422 CNY/tonne.

Spot sugar prices slightly increase in the morning. New sugar is priced at 5,320-5,380 CNY/tonne in Guangxi, a rise of 10 CNY/tonne from yesterday; in Yunnan, new sugar is priced at 5,310 CNY/tonne in Kunming and 5,280 CNY/tonne in Dali with no change from yesterday; new sugar is unchanged at 5,300-5,330 CNY/tonne in Zhanjiang, Guangdong; new sugar also remains flat at 5,290 CNY/tonne in Hainan.

Processed sugar prices keep steady with a rise in coastal regions. Grade I carbonized sugar is unchanged at 5,480 CNY/tonne in Fujian and 5,410 CNY/tonne in Guangdong, 35 CNY/tonne higher at 5,510 CNY/tonne in Shandong, unchanged at 5,440 CNY/tonne in Liaoning and 5,430 CNY/tonne in Hebei.

Zhengzhou sugar futures edge up after high opens. 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 at a narrow range in the afternoon.

(USD $1=CNY ¥6.50)