Today (Apr 14), the market for sugar in China is shown as follows:

The most-active contract for sugar futures retreats after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 53 CNY/tonne lower at 5,276 CNY/tonne with the high of 5,338 CNY/tonne and the low of 5,273 CNY/tonne; nearby May contract settles 47 CNY/tonne lower at 5,211 CNY/tonne with the high of 5,267 CNY/tonne and the low of 5,211 CNY/tonne.

Spot sugar prices keep steady with a partial decline in the morning, and some enterprises don’t offer. Grade I sugar is priced at 5,270-5,340 CNY/tonne in Guangxi, flat from yesterday; in Yunnan, grade I sugar is priced at 5,210-5,230 CNY/tonne in Kunming and 5,170-5,200 CNY/tonne in Dali, down 30 CNY/tonne from yesterday; grade I sugar is priced 10 CNY/tonne lower at 5,230-5,260 CNY/tonne in Zhanjiang, Guangdong; grade I sugar also decreases by 10 CNY/tonne to 5,230 CNY/tonne in Hainan.

Processed sugar prices stay stable with a pullback in coastal regions. Grade I carbonized sugar is 50 CNY/tonne lower at 5,410 CNY/tonne in Fujian, unchanged at 5,360 CNY/tonne in Guangdong, 35 CNY/tonne lower at 5,440 CNY/tonne in Shandong, 20 CNY/tonne lower at 5,360 CNY/tonne in Liaoning and 10 CNY/tonne lower at 5,350 CNY/tonne in Hebei.

Zhengzhou sugar futures post pullbacks after low opens in the morning. Spot prices generally edge down. And some traders still take a wait-and-see attitude, seeing a relatively quiet market. It is predicted that spot sugar prices will fluctuate at a narrow range in the afternoon.

(USD $1=CNY ¥6.54)