Today (Mar 10), the market for sugar in China is shown as follows:

The most-active contract for sugar futures further drops after opening low on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 64 CNY/tonne lower at 5,329 CNY/tonne with the high of 5,375 CNY/tonne and the low of 5,310 CNY/tonne; forward September contract settles 62 CNY/tonne lower at 5,418 CNY/tonne with the high of 5,462 CNY/tonne and the low of 5,398 CNY/tonne.

Spot sugar prices stay stable with a decrease today. New sugar is priced at 5,330-5,420 CNY/tonne in Guangxi, unchanged from yesterday; in Yunnan, new sugar is priced at 5,320-5,340 CNY/tonne in Kunming and 5,290-5,310 CNY/tonne in Dali with a decline of 12-20 CNY/tonne; new sugar is steadily offered at 5,330-5,370 CNY/tonne in Zhanjiang, Guangdong; new sugar is also unchanged at 5,310 CNY/tonne in Hainan.

Processed sugar prices mostly go down in coastal regions. Grade I carbonized sugar remains flat at 5,480 CNY/tonne in Fujian and 5,440 CNY/tonne in Guangdong, 35 CNY/tonne lower at 5,475 CNY/tonne in Shandong, 30 CNY/tonne lower at 5,430 CNY/tonne both in Liaoning and Hebei.

Zhengzhou sugar futures fluctuate to fall in the morning. Sugar prices in producing and selling regions also follow the downside. Spot market is in quiet trading as market participants are staying on the sideline and waiting for the moment. It is expected that sugar price will still fluctuate narrowly at the low level in the afternoon.

(USD $1=CNY ¥6.51)