Today (Apr 16), the market for sugar in China is shown as follows:

The most-active contract for sugar futures extends gains after high opens on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 102 CNY/tonne higher at 5,405 CNY/tonne with the high of 5,405 CNY/tonne and the low of 5,312 CNY/tonne; nearby May contract settles 82 CNY/tonne higher at 5,322 CNY/tonne with the high of 5,324 CNY/tonne and the low of 5,246 CNY/tonne.

Spot sugar prices mostly go up in the morning, while some enterprises don’t offer quotation as they are taking a holiday to celebrate their traditional festival called “the 3^rd of March”. Grade I sugar is priced at 5,320-5,400 CNY/tonne in Guangxi, up 50 CNY/tonne from yesterday; in Yunnan, grade I sugar is priced at 5,250 CNY/tonne in Kunming and 5,220 CNY/tonne in Dali, an increase of 20-50 CNY/tonne; grade I sugar is priced 30-40 CNY/tonne higher at 5,270-5,310 CNY/tonne in Zhanjiang, Guangdong; grade I sugar increases by 40 CNY/tonne to 5,260 CNY/tonne in Hainan.

Processed sugar prices are offered higher in coastal regions. Grade I carbonized sugar is 20 CNY/tonne higher at 5,450 CNY/tonne in Fujian, 50 CNY/tonne higher at 5,410 CNY/tonne in Guangdong, 70 CNY/tonne higher at 5,510 CNY/tonne in Shandong, 30 CNY/tonne higher at 5,400 CNY/tonne in Liaoning and 40 CNY/tonne higher at 5,400 CNY/tonne in Hebei.

Zhengzhou sugar futures edge up in the morning, inspiring traders to purchase of spot goods. Sugar trading becomes better in the morning, and some enterprises may adjust price with trading going forward in the afternoon.

(USD $1=CNY ¥6.53)