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SunSirs: Consumption in the sugar market is deserted, prices are falling

May 19 2020 08:34:46     SunSirs (Molly)

1. Price Trend

According to SunSirs monitoring: the average price of primary sugar was 5800 yuan / ton at the beginning of this week, and the average price of primary sugar was 5786 yuan / ton this weekend, and the price fell by 0.23%.

2. Market analysis

Domestically: As of the end of April, the sugar production period of 2019/20 has accumulated 10.2098 million tons of sugar (106.815 million tons of sugar in the same period of the previous sugar production period), of which 8.817 million tons of sugar cane (sucrose produced in the same period of the previous sugar production period Sugar 936.61 million tons). The production of sugar beet sugar was 1.392 million tons (the sugar beet sugar was 1.3154 million tons in the same period of the previous sugar making period).

Apart from the sugar factories in Yunnan that were still in production in April, other sugar factories have been fully squeezed. The country's monthly sugar output was only 398,000 tons, about half of the same period last year. The total domestic sugar production is expected to be about 10.3 million tons this year, which is about 200,000 tons lower than the expected output in November last year.

International: The production of sugar for the 2019/20 crushing season in India and Thailand has been halted, and the focus of global sugar supply has shifted to Brazil. Because international crude oil prices are at historically low levels, and the Brazilian currency, the real, has depreciated significantly, the market generally believes that Brazil ’s sugar production will increase substantially. Different agencies predict that Brazil ’s total sugar production will reach 35-41 million tons in 2020/21.

3. Future market forecast

SunSirs white sugar analysts believe that the current industrial inventory of sugar factories is lower than the same level as in the previous two years, and the later sales situation will be more obvious for guiding the price of sugar.

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