I. Core Bearish Factor: Domestic Supply Glut Remains the Primary Headwind High Carryover Stocks and Slow Inventory Depletion Following a bumper harvest in the previous crushing season,

I. Wholesale Price Situation of Fresh Agricultural Products in China According to monitoring by the Ministry of Agriculture and Rural

The Indonesian Sugar Association has reported that as the 2026 sugarcane crushing season nears its end, national cane sugar production has reached 2.6–2.7 million metric

According to the SunSirs commodity market analysis system, the average domestic price for Grade 1 white sugar was 5,196 RMB/ton at the beginning of the

Macroeconomics 1. [Economic Policy] The State Council recently released a report on the nation’s financial affairs, proposing the continued implementation of a moderately loose monetary policy.

As of November 2, 2026, member states of the Eurasian Economic Union (EAEU) have completed the harvest of 83% of their sugar beet acreage. Since

On November 2, the first sugar mill in Yunnan commenced crushing operations. Ex-warehouse prices for Grade I refined sugar in the Dali and Xiangyun regions

Macroeconomics 1. [Russia-Ukraine Situation] On November 3 (local time), Kremlin Press Secretary Dmitry Peskov confirmed that trilateral negotiations involving Russia, the United States, and Ukraine are

According to the latest data released by the Brazilian Ministry of Agriculture, sugar production in Brazil’s primary producing regions reached 1.8715 million tonnes during the

According to the SunSirs commodity market analysis system, the average domestic price of Grade I white sugar was 5,180 RMB/ton at the beginning of the

Carry-over industrial stocks from the previous crushing season and high volumes of futures warehouse receipts weigh on the market. For the new season, sugarcane crops

According to the monitoring of 500 county fairs and collection points nationwide, in the second week of October (the collection date was October 15), the

From January to September, the import and export volume of China's agricultural products reached 252.36 billion US dollars, a year-on-year increase of 9.7%. Among them,

I. Why International Markets Are Strong (Surge in ICE Raw Sugar) Disruptions to Brazilian Crushing (The Key Variable): Excessive rainfall in the Center-South region has delayed

Bearish Factors (Limiting Upside Potential) Expectations of Increased Domestic Sugar Production Sugarcane acreage in Guangxi has expanded, and abundant rainfall during the flood season has favored crop

In October, the raw sugar price in the overseas market rose sharply, driving a slight increase in Zhengzhou sugar futures. The main contract 2701

According to the latest statistics released by the General Administration of Customs on October 20, my country’s total imports of five categories of syrups and

I. Key Bearish Factor: Continuous Upward Revisions to Domestic Production Forecasts For the new crushing season (2026/27), sugar beet processing in the north is now in

According to the monitoring of 500 county fairgrounds and collection points nationwide, in the 5th week of September (the collection day was September 30), the