Today (Apr 9), the market for sugar in China is shown as follows:

The most-active contract for sugar futures retreats after opening low on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 29 CNY/tonne lower at 5,336 CNY/tonne with the high of 5,367 CNY/tonne and the low of 5,315 CNY/tonne; nearby May contract settles 24 CNY/tonne lower at 5,263 CNY/tonne with the high of 5,289 CNY/tonne and the low of 5,249 CNY/tonne.

Spot sugar prices mostly keep steady and partly edge down in the morning. Grade I sugar is steadily priced at 5,260-5,340 CNY/tonne in Guangxi; in Yunnan, grade I sugar is priced at 5,250 CNY/tonne in Kunming and 5,220 CNY/tonne in Dali, unchanged; grade I sugar is unchangeably priced at 5,240-5,270 CNY/tonne in Zhanjiang, Guangdong; grade I sugar also remains flat at 5,240 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, 5,360 CNY/tonne in Guangdong, 30 CNY/tonne lower at 5,480 CNY/tonne in Shandong, 10 CNY/tonne lower at 5,380 CNY/tonne in Liaoning and 5,370 CNY/tonne in Hebei.

Zhengzhou sugar futures fluctuate to decline today. But spot market still looks quiet. Traders mostly offer price unchanged from yesterday. And the big order is negotiable. It is predicted that sugar prices will keep range-bound in the afternoon.

(USD $1=CNY ¥6.54)