China's ministry of commerce and other state departments announced in June that 552,000 tons of the state sugar reserve and Cuban imported sugar would be sold on the domestic market to help stabilize prices that had soared after a drought during last year's growing season.
It planned to auction 92,000 tons of sugar each month during June to September to encourage consumption.
But a statement from the Ministry of Commerce last week said that the 15 August auction would be rescheduled.
Che Yong, an analyst with the New Ages Futures, told Xinhua news that the move would result in a price rise on the futures market.
Sugar spot prices have dropped significantly since the first auctions took place and are now lower than the futures price, suggesting an abundant supply, according to Che.
Other analysts had already predicted that some of the auctions would be postponed or cancelled.
The high price of sugar in the first half and increasing supply of substitutes had restrained the demand, he told the newswire.
