Today (Apr 6), the market for sugar in China is shown as follows:

The most-active contract for sugar futures extends gains after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 60 CNY/tonne higher at 5,383 CNY/tonne with the high of 5,384 CNY/tonne and the low of 5,331 CNY/tonne; nearby May contract settles 42 CNY/tonne higher at 5,305 CNY/tonne with the high of 5,307 CNY/tonne and the low of 5,274 CNY/tonne.

Spot sugar prices mostly keep steady and partly edge up in the morning, while the 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 generally go up in coastal regions. Grade I carbonized sugar is 20 CNY/tonne higher at 5,450 CNY/tonne in Fujian, 10 CNY/tonne higher at 5,360 CNY/tonne in Guangdong, 40 CNY/tonne higher at 5,500 CNY/tonne in Shandong, 20 CNY/tonne higer at 5,390 CNY/tonne in Liaoning and 5,380 CNY/tonne in Hebei.

Zhengzhou sugar futures markedly move higher in the morning. According to the production and sales data in Guangxi, for the moment, the industrial stocks of sugar total 3,951,600 tonnes with an increase of 821,600 tonnes compared to a year earlier, pressuring spot market. It is projected that sugar prices will continue keeping range-bound in the afternoon.

(USD $1=CNY ¥6.55)