Today (Apr 12), the market for sugar in China is shown as follows:

The most-active contract for sugar futures goes up after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 36 CNY/tonne higher at 5,378 CNY/tonne with the high of 5,413 CNY/tonne and the low of 5,370 CNY/tonne; nearby May contract settles 33 CNY/tonne higher at 5,299 CNY/tonne with the high of 5,330 CNY/tonne and the low of 5,289 CNY/tonne.

Spot sugar prices keep steady with a slight increase in the morning. Grade I sugar is priced at 5,270-5,340 CNY/tonne in Guangxi, a bit higher than last Friday; 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 steadily 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 rise in coastal regions. Grade I carbonized sugar is 10 CNY/tonne higher at 5,460 CNY/tonne in Fujian and 5,370 CNY/tonne in Guangdong, 55 CNY/tonne higher at 5,535 CNY/tonne in Shandong, 10 CNY/tonne higher at 5,390 CNY/tonne in Liaoning and 5,380 CNY/tonne in Hebei.

Zhengzhou sugar futures further rise after high opens in the morning but pare gains after noon. Spot market stand firm with an increase of about 10 CNY/tonne. Market participants generally take a wait-and-see attitude. It is predicted that spot sugar prices will keep range-bound in the afternoon.

(USD $1=CNY ¥6.56)