According to the SunSirs commodity market analysis system, the average domestic price of Grade I white sugar was 5,290 RMB/ton at the beginning of last week and 5,280 RMB/ton at the weekend, marking a decline of 0.19%.

Domestically, the sugar market faces significant supply-side pressure; while production and inventories have increased, sales progress remains sluggish. However, recent weather conditions have introduced some potential market support factors. Overall, given the reality of abundant domestic sugar supplies and unresolved sales pressure—compounded by a year-on-year increase in sugar imports—the room for domestic sugar prices to rise in the short term is limited.

Internationally, as of June 1 in the 2026/27 crushing season, Brazil's major producing regions had crushed a cumulative total of 144.707 million tons of sugarcane, a 15.81% increase from the 124.951 million tons crushed during the same period of the previous season. Currently, there are expectations of weather-related bullish factors: the El Niño phenomenon continues to develop, and high temperatures and drought conditions are intensifying in major sugarcane-growing regions of Thailand and India. The market is concerned about a potential decline in sugarcane yields in the Northern Hemisphere for the 2026/27 season, providing weather-related premium support for long-term contracts.

The reality of high inventories and a global supply surplus is unlikely to reverse quickly, limiting the potential for a rebound; consequently, white sugar prices are expected to exhibit a fluctuating, slightly bearish trend in the short term.

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