Sugar futures closed lower Tuesday in daytime trading on the Zhengzhou Commodity Exchange (ZCE).
The most active sugar contract for July 2023 delivery lost 90 yuan (about 13.1 U.S. dollars) to close at 6,430 yuan per tonne.
On Tuesday, the total trading volume for six listed sugar futures contracts on the ZCE was 1,597,069 lots with a turnover of 103.19 billion yuan.
As the world’s important consumer and importer of sugar, China listed sugar futures on ZCE in January 2006, helping sugar-related enterprises hedge the price risk.