On January 29th, Yunnan distributors quoted a price of 4,980-5,020 RMB/ton for new sugar (in plant delivery price), an increase of 30 RMB/ton from the price quoted on the 28th. As of December 31st, 2025, Yunnan Province has opened a total of 36 sugar mills, which is the same as the same period in the previous crushing season. 392,300 tons of sugar have been produced and 281,400 tons of sugar have been sold.

The spot price of Yunnan white sugar has risen by 30 RMB/ton to 4,980-5,020 RMB/ton, indicating strong short-term demand or tight supply, which directly benefits the spot price. Combined with the futures market, the sugar futures contract, such as 2605, closed at 5,187 RMB/ton on January 28, 2026, with an increase or decrease of 8.00 RMB, indicating an increase in holdings and a positive market expectation, strengthening the bullish trend. Despite high inventory levels as of the end of 2025 (with a production of 392,300 tons and sales of 281,400 tons), current price increases and positive sentiment driven by futures data support upward price potential.

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