On December 16th, the delivery price of Yunnan New Sugar in sugar factories was lowered to 5,060-5,140 RMB/ton, a decrease of 40 RMB/ton from the quotation on December 15th. As of December 16th, 2025, the total number of sugar factories in Yunnan Province for the 2025/26 crushing season has exceeded 30.

The delivery price of Yunnan New Sugar has been lowered by 40 RMB/ton to 5,060-5,140 RMB/ton, indicating a significant increase in supply pressure in the spot market. As of December 16th, there are over 30 sugar mills operating, and the increase in supply during the new crushing season may further pressure spot prices. Based on the data of sugar futures on December 15th (main contract 2605 closed at 5,207 RMB, down 1 RMB; position increased by 12,559 lots), the downward adjustment of spot prices has strengthened the expectation of a downward trend in futures, and the risk of oversupply has had a negative impact on futures prices.

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