Today (Mar 25), 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 September contract ended 42 CNY/tonne higher at 5,403 CNY/tonne with the high of 5,426 CNY/tonne and the low of 5,384 CNY/tonne; nearby May contract settles 42 CNY/tonne higher at 5,329 CNY/tonne with the high of 5,349 CNY/tonne and the low of 5,305 CNY/tonne.

Spot sugar prices mainly keep steady in the morning. New sugar is priced at 5,290-5,370 CNY/tonne in Guangxi, flat 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 unchangeably priced at 5,260-5,290 CNY/tonne in Zhanjiang, Guangdong; new sugar also remains flat at 5,250 CNY/tonne in Hainan.

Processed sugar prices generally increase in coastal regions. Grade I carbonized sugar is 30CNY/tonne higher at 5,480 CNY/tonne in Fujian, unchanged at 5,380 CNY/tonne in Guangdong, 50 CNY/tonne higher at 5,470 CNY/tonne in Shandong, 20 CNY/tonne higher at 5,420 CNY/tonne both in Liaoning and Hebei.

Zhengzhou sugar futures extend gains after opening high. Spot prices mainly remain flat. Groups offer a discount for big orders, which may stoke some traders’ positivity in buying on the dips. It will not rule out an additional marginal rise in price offered by groups if sugar trading goes better in the afternoon.

(USD $1=CNY ¥6.53)