Today (Mar 18), the market for sugar in China is shown as follows:

The most-active contract for sugar futures bounce back after opening low on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 23 CNY/tonne higher at 5,392 CNY/tonne with the high of 5,406 CNY/tonne and the low of 5,342 CNY/tonne; forward September contract settles 26 CNY/tonne higher at 5,474 CNY/tonne with the high of 5,489 CNY/tonne and the low of 5,419 CNY/tonne.

Spot sugar prices keep steady in the morning. New sugar is priced at 5,320-5,390 CNY/tonne in Guangxi, unchanged 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 20 CNY/tonne higher at 5,500 CNY/tonne in Fujian, unchanged at 5,410 CNY/tonne in Guangdong and 5,510 CNY/tonne in Shandong, not available in Liaoning ( 5,440 CNY/tonne yesterday) and Hebei (5,430 CNY/tonne yesterday).

Zhengzhou sugar futures edge higher after low opens. Spot market is still in quiet trading as market participants are waiting for the release of import data. It is expected that sugar price will likely move on the basis of the data in the afternoon.

(USD $1=CNY ¥6.49)