Today (Mar 24), the market for sugar in China is shown as follows:

The most-active contract for sugar futures move higher after opening low on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 17 CNY/tonne higher at 5,388 CNY/tonne with the high of 5,398 CNY/tonne and the low of 5,315 CNY/tonne; nearby May contract settles 18 CNY/tonne higher at 5,312 CNY/tonne with the high of 5,325 CNY/tonne and the low of 5,246 CNY/tonne.

Spot sugar prices keep steady with a modest decline in the morning. New sugar is priced at 5,290-5,370 CNY/tonne in Guangxi, down 10 CNY/tonne from yesterday; in Yunnan, new sugar is priced at 5,290-5,300 CNY/tonne in Kunming and 5,260-5,270 CNY/tonne in Dali, unchanged from yesterday; new sugar is priced at 5,260-5,290 CNY/tonne in Zhanjiang, Guangdong with a decrease of 10 CNY/tonne; new sugar is also 10 CNY/tonne lower at 5,250 CNY/tonne in Hainan.

Processed sugar prices stay stable with a decrease in coastal regions. Grade I carbonized sugar is unchanged at 5,450 CNY/tonne in Fujian, 10 CNY/tonne lower at 5,380 CNY/tonne in Guangdong, 20 CNY/tonne lower at 5,420 CNY/tonne in Shandong, unchanged at 5,400 CNY/tonne both in Liaoning and Hebei.

Zhengzhou sugar futures seesaw to go slightly higher. Spot prices keep steady with a fall, and market participants are staying on the sideline. A few traders make appropriate purchases. It is expected that sugar price will keep range-bound in the afternoon.

(USD $1=CNY ¥6.52)