Today (Apr 1), the market for sugar in China is shown as follows:

The most-active contract for sugar futures moves higher after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 28 CNY/tonne higher at 5,327 CNY/tonne with the high of 5,330 CNY/tonne and the low of 5,270 CNY/tonne; nearby May contract settles 16 CNY/tonne higher at 5,268 CNY/tonne with the high of 5,273 CNY/tonne and the low of 5,229 CNY/tonne.

Spot sugar prices all keep steady in the morning. New sugar is steadily priced at 5,260-5,340 CNY/tonne in Guangxi; in Yunnan, new sugar is priced at 5,250-5,260 CNY/tonne in Kunming and 5,220-5,230 CNY/tonne in Dali, unchanged; new sugar is unchangeably priced at 5,230-5,260 CNY/tonne in Zhanjiang, Guangdong; new sugar also remains flat at 5,220 CNY/tonne in Hainan.

Processed sugar prices stay stable with several declines in coastal regions. Grade I carbonized sugar is unchanged at 5,430 CNY/tonne in Fujian and 5,350 CNY/tonne in Guangdong, 55 CNY/tonne lower at 5,420 CNY/tonne in Shandong, unchanged at 5,370 CNY/tonne in Liaoning and 5,360 CNY/tonne in Hebei.

Zhengzhou sugar futures go up after opening low. Spot market is quiet now. Dominated by buyer’s market, traders are mostly staying on the sideline and waiting for the moment. It is projected that sugar prices will continue fluctuating at the low level in the afternoon.

(USD $1=CNY ¥6.56)