Today (Mar 26), the market for sugar in China is shown as follows:

The most-active contract for sugar futures extends losses after opening low on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 54 CNY/tonne lower at 5,356 CNY/tonne with the high of 5,394 CNY/tonne and the low of 5,339 CNY/tonne; forward May contract settles 54 CNY/tonne lower at 5,278 CNY/tonne with the high of 5,315 CNY/tonne and the low of 5,261 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 30 CNY/tonne lower at 5,450 CNY/tonne in Fujian, unchanged at 5,380 CNY/tonne in Guangdong and 5,470 CNY/tonne in Shandong, not available in Liaoning (5,420 CNY/tonne yesterday) and 30 CNY/tonne lower at 5,390 CNY/tonne Hebei.

Zhengzhou sugar futures extend losses after opening low. Spot prices mainly remain flat. Groups still offer a discount for big orders, which leads some traders make appropriate replenishment on the dips. It is projected that spot prices still keep range-bound in the afternoon.

(USD $1=CNY ¥6.54)