SunSirs--China Commodity Data Group

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Commodity News

SunSirs: Sugar Price Was Stable

March 23 2020 10:39:55     SunSirs (Daisy)

The average price of first-grade white sugar is 5920 RMB/ton at the beginning of this week, and the average price of first-grade white sugar is 5920 RMB/ton at the end of this week. The price is temporarily stable.

Domestic Aspect: Because of the decrease of sugar cane in Guangxi sugar factory, the expected time of harvesting and pressing is earlier than in previous years, and the energy of sugar production is insufficient. Yunnan is affected by the Spring Festival sugar cane harvest. Sugar mill season may be extended to the end of May. The year's final sugar production may not be clear until the end of March.

According to customs statistics, a total of 990,000 tons of sugar has been imported from October to December 2019, an increase of 140,000 tons compared with the same period in 2018. China has imposed a special safeguard tariff on sugar imported from outside the quota since 2017, with the tax rate being 45 percent in the first year, reduced to 40 percent in the second year, and reduced to 35 percent from May 2019 to May 2020.

Market Forecast 

SunSirs white sugar analysts think that short - term demand for white sugar is depressed. Pay attention to the Brazilian sugar plant sugar proportion adjustment, Zheng sugar is expected to be in the stage of adjustment.

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.

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