Today (Apr 2), the market for sugar in China is shown as follows:

The most-active contract for sugar futures edges higher after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 15 CNY/tonne higher at 5,319 CNY/tonne with the high of 5,335 CNY/tonne and the low of 5,309 CNY/tonne; nearby May contract settles 7 CNY/tonne higher at 5,262 CNY/tonne with the high of 5,276 CNY/tonne and the low of 5,250 CNY/tonne.

Spot sugar prices mainly keep steady in the morning, while its trading is quiet. New sugar is steadily priced at 5,260-5,340 CNY/tonne in Guangxi; in Yunnan, new sugar is priced at 5,250 CNY/tonne in Kunming and 5,220 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 mainly stand stable in coastal regions, and several enterprises offer higher. Grade I carbonized sugar is unchanged at 5,430 CNY/tonne in Fujian and 5,350 CNY/tonne in Guangdong, 40 CNY/tonne higher at 5,460 CNY/tonne in Shandong, unchanged at 5,370 CNY/tonne in Liaoning and 5,360 CNY/tonne in Hebei.

Zhengzhou sugar futures take marginal rises in the morning, but spot prices generally stand firm. Market participants mainly take a wait-and-see attitude. And market trade is tepid due to an excess of supply. With the forthcoming Qingming Festival holiday, traders are reluctant to make purchases and mostly clear stocks now. It is projected that sugar prices will still fluctuate at a narrow range in the afternoon.

(USD $1=CNY ¥6.56)