Today (Mar 29), the market for sugar in China is shown as follows:

The most-active contract for sugar futures moves lower after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 45 CNY/tonne lower at 5,315 CNY/tonne with the high of 5,371 CNY/tonne and the low of 5,303 CNY/tonne; forward May contract settles 17 CNY/tonne lower at 5,266 CNY/tonne with the high of 5,311 CNY/tonne and the low of 5,256 CNY/tonne.

Spot sugar prices keep steady with a decline in the morning. Some groups not offer price. New sugar is priced at 5,270-5,350 CNY/tonne in Guangxi, down 20 CNY/tonne from last Friday; in Yunnan, new sugar is priced at 5,260-5,290 CNY/tonne in Kunming and 5,230-5,260 CNY/tonne in Dali, a drop of 10-30 CNY/tonne from last Friday; new sugar is priced 20 CNY/tonne lower at 5,240-5,270 CNY/tonne in Zhanjiang, Guangdong; new sugar is also 20 CNY/tonne lower at 5,230 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, 20 CNY/tonne lower at 5,360 CNY/tonne in Guangdong, unchanged at 5,470 CNY/tonne in Shandong, 10 CNY/tonne lower at 5,410 CNY/tonne in Liaoning and 5,380 CNY/tonne in Hebei.

Zhengzhou sugar futures shift to decline after opening high. Spot prices mostly edge lower. Market participants are staying on the sideline and waiting for the moment. It is projected that spot prices will keep range-bound in the afternoon if no distinct change on fundamentals.

(USD $1=CNY ¥6.54)