According to monitoring data from the SunSirs Commodity Market Analysis System: At the beginning of last week, the average domestic price for Grade 1 white sugar stood at 5,400 RMB/ton; by the end of the week, the average price had risen to 5,445 RMB/ton—an increase of 0.83%.

Market Analysis

Domestically, as of May 9, all 73 sugar mills operating in Guangxi for the 2025/26 crushing season had concluded their operations. Preliminary estimates indicate that Guangxi’s sugar output for this season reached 7.7 million tons—marking a 12-year high. The cumulative volume of sugarcane crushed totaled 60.9092 million tons, representing a year-on-year increase of 12.3138 million tons. As of April 30, 2026, total sugar production stood at 2.7522 million tons; specifically in April, monthly production reached 617,800 tons, monthly sales totaled 266,500 tons, and industrial inventory stood at 1.4394 million tons.

Internationally, the market received a boost from global trends, providing positive external support for domestic sugar prices. In major production regions, sugar manufacturers and traders displayed strong sentiment regarding their price quotes, leading to price hikes across the board. However, the futures market exhibited significant divergence, characterized by the coexistence of "weak fundamentals" (current reality) and "strong expectations" (future outlook).

Market Outlook

The domestic sugar market is currently in a destocking phase. Influenced by rising prices in international markets, domestic white sugar prices have been driven upward. Consequently, it is anticipated that in the short term, white sugar prices will primarily follow a fluctuating yet bullish trend.

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