Overseas markets plunged, and today both domestic white sugar futures and spot sugar prices fell.

Overnight, overseas raw sugar futures plunged sharply to the 19-cent level. This morning, domestic white sugar futures followed with sharp declines. In the morning session, the main 2701 contract fell 71 points, or 1.33%, with a traded price of 5,279 yuan/ton, a high of 5,297 yuan and a low of 5,236 yuan. As of press time this morning, quotes from Guangxi sugar mills and distributors were lowered to a range of 5,120-5,170 yuan/ton, down about 20 yuan/ton from yesterday's quotes. This morning, Yunnan sugar mills and distributors quoted 5,020-5,050 yuan/ton in the Kunming market, down about 40 yuan/ton from yesterday's quotes; warehouse pickup prices for grade-1 white granulated sugar in the Dali and Xiangyun areas were lowered to the 4,965-5,000 yuan/ton level.