Today (Mar 30), the market for sugar in China is shown as follows:

The most-active contract for sugar futures moves higher after opening low on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 4 CNY/tonne higher at 5,337 CNY/tonne with the high of 5,343 CNY/tonne and the low of 5,312 CNY/tonne; forward May contract settles 3 CNY/tonne higher at 5,285 CNY/tonne with the high of 5,293 CNY/tonne and the low of 5,265 CNY/tonne.

Spot sugar prices keep steady with a decline in the morning. Some groups offer discount for big orders. New sugar is steadily priced at 5,270-5,350 CNY/tonne in Guangxi; in Yunnan, new sugar is priced at 5,250-5,270 CNY/tonne in Kunming and 5,220-5,240 CNY/tonne in Dali, a drop of 10-20 CNY/tonne from yesterday; new sugar is priced 10 CNY/tonne lower at 5,230-5,260 CNY/tonne in Zhanjiang, Guangdong; new sugar is also 10 CNY/tonne lower at 5,220 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 and 5,360 CNY/tonne in Guangdong, 20 CNY/tonne lower at 5,485 CNY/tonne in Shandong, unchanged at 5,390 CNY/tonne in Liaoning and 5,380 CNY/tonne in Hebei.

Zhengzhou sugar futures go down 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 steady with a marginal fluctuation in the afternoon.

(USD $1=CNY ¥6.56)