SunSirs: Sugar Price Was Weak
March 30 2020 12:07:02 SunSirs (Daisy)
At the beginning of this week the average price of white sugar is 5906 RMB/ton, and this weekend the average price of white sugar is 5900 RMB/ton, with the price falling by 0.11%.
In China, the sugar mills in the main production areas are facing a peak harvest period, and the delay in the resumption of work may lead to lower production estimates in some areas. However, affected by the outbreak, the upper rebound space is limited, it is expected that Zheng sugar futures price will be in the adjustment phase.
International Aspect: The sugar mills in the main production areas in China are facing the peak season of harvest and pressing, and due to the delay in the resumption of work, the output of some production areas may be reduced. However, affected by the outbreak, the upper rebound space is limited, it is expected that Zheng sugar futures price or in the adjustment phase. India's 19/20 sugar exports were 4.5 million tons, down nearly a fifth from previous estimates. As the outbreak dragged down international prices, making overseas sales unprofitable.
Market Forecast: Sunsirs sugar analysts think that affected by the epidemic, the upper rebound space is limited, it is expected that Zheng sugar futures price will be in the adjustment phase.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.
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