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White granulated sugar News
SunSirs: Adequate Supply, China Sugar Prices is Falling
September 14 2024 09:45:08SunSirs(Selena)

According to the monitoring of the commodity market analysis system of SunSirs, the average price of first grade white sugar in China was 6,390 RMB/ton at the beginning of the week, and 6,380 RMB/ton at the end of the week, with a price drop of 0.16%.

Domestic sugar is in a pure sales period, and the overall inventory level in China is low. However, as expected, the domestic import volume increased significantly in July, and the pressure on processed sugar supply gradually emerged. Coupled with the fact that sugar beet sugar will also be launched in September, the overall supply of domestic sugar sources is sufficient, and the spot price of domestic white sugar is weak and falling.

Brazil's two-week sugar production in the second half of August decreased year-on-year, and production data continued to be bullish. The combined impact of the São Paulo fire on Brazilian sugarcane production has led to poor prospects for Brazilian production, supporting raw sugar prices. Brazil is in a peak supply period, with sufficient rainfall in the northern hemisphere. The production prospects of India and Thailand are good. Currently, the production prospects for the 2024/2025 crushing season are still optimistic. In addition, India may have export expectations, which limit the continued upward space for raw sugar.

The domestic supply of white sugar is sufficient, and it is expected that the price of white sugar will mainly fluctuate and weaken in the short term.

 

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