According to monitoring by the SunSirs commodity market analysis system, the average domestic price of Grade I white sugar was 5,271 RMB/ton at the beginning of the month and 5,176 RMB/ton at the end of the month, representing a decline of 1.80%.

Market Analysis

Domestically, spot prices have generally trended downward, pressured by high inventory levels and weak end-market consumption. Spot prices in many regions have been lowered compared to earlier levels; overall market trading is sluggish, with downstream buyers focusing primarily on essential, immediate needs. Domestic white sugar production surged during the 2025/26 crushing season; combined with the continued arrival of previously imported sugar and sugar syrup, domestic industrial inventories have hit a five-year high for the same period. The pattern of slow inventory depletion and a supply-surplus/demand-deficit dynamic is evident.

Regarding demand, the traditional peak summer consumption season underperformed expectations, and the recovery of the food and beverage sector slowed. Downstream enterprises are largely maintaining small-volume restocking based on immediate needs rather than engaging in bulk purchasing, resulting in weak price support from the consumption side. Continued arrivals of imported sugar, coupled with expectations regarding import licenses, have further increased supply pressure in the domestic market, capping the upside potential for spot prices.

Market Outlook

Slow domestic inventory depletion and rising import volumes are limiting price increases; white sugar prices are expected to exhibit a fluctuating, weak trend in the short term.

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