As of April 28, eleven sugar mills in Yunnan Province had concluded their crushing operations, accounting for approximately 27% of the total number of operating mills. By the end of March, Yunnan Province had produced 2.1344 million tons of sugar—a year-on-year increase of 6.25%.

With sugar production in Yunnan reaching 2.1344 million tons by the end of March—up 6.25% year-on-year—the increased supply is exerting downward pressure on spot prices and could potentially lead to a market surplus. In conjunction with futures market data, the settlement price for the benchmark white sugar futures contract (2609) stood at 5,410 RMB per ton, marking a daily decline of 1.00 RMB. Open interest for the contract increased by 33,708 lots, signaling intensifying market concerns regarding the growth in supply; consequently, futures prices are expected to remain under pressure in the short term.

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