Today (Mar 19), the market for sugar in China is shown as follows:

The most-active contract for sugar moves lower on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 67 CNY/tonne lower at 5,310 CNY/tonne with the high of 5,390 CNY/tonne and the low of 5,293 CNY/tonne; forward September contract settles 80 CNY/tonne lower at 5,375 CNY/tonne with the high of 5,470 CNY/tonne and the low of 5,342 CNY/tonne.

Spot sugar prices keep steady with a decline 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 5,300-5,310 CNY/tonne in Kunming and 5,270-5,280 CNY/tonne in Dali, down 10 CNY/tonne from yesterday; new sugar is priced at 5,290-5,320 CNY/tonne in Zhanjiang, Guangdong with a decrease of 10 CNY/tonne; new sugar is also 10 CNY/tonne lower at 5,280 CNY/tonne in Hainan.

Processed sugar prices keep steady with a descent in coastal regions. Grade I carbonized sugar is 30 CNY/tonne lower at 5,470 CNY/tonne in Fujian, unchanged at 5,410 CNY/tonne in Guangdong, 30 CNY/tonne lower at 5,480 CNY/tonne in Shandong, 20 CNY/tonne lower at 5,420 CNY/tonne in Liaoning and 30 CNY/tonne lower at 5,420 CNY/tonne in Hebei.

Zhengzhou sugar futures edge down after low opens. With respect to spot market, participants are staying on the sideline. A sharp increase of sugar imports in January-February has depressed market sentiment. It is expected that sugar price will fluctuate at the low level in the afternoon.

(USD $1=CNY ¥6.51)