SunSirs: Weak Transaction, The Price of White Granulated Sugar was Falling in China
January 10 2023 14:05:37 SunSirs (Selena)
According to the monitoring of SunSirs, the average price of the first grade white granulated sugar at the beginning of this week was 5,786 RMB/ton, and the average price of the first grade white granulated sugar at the weekend was 5,764 RMB/ton, down 0.38%, and up 0.42% compared with the same period last year.
As of December 31, 2022, there were 34 sugar mills in Yunnan Province, an increase of 15 on a year-on-year basis. The province has accumulated 2,032,700 tons of sugar cane, an increase of 867,200 tons on a year-on-year basis. The cumulative sugar output is 228,400 tons, an increase of 107,300 tons on a year-on-year basis. The sugar yield is 11.24%, an increase of 0.85% on a year-on-year basis.
The acceleration of production in India and Thailand has also put pressure on sugar prices. As of the end of December 2022, India has produced 12.07 million tons of sugar in this pressing season, a year-on-year increase of 3.7%. As of December 25, 2022, Thailand has produced 1.238 million tons of sugar, a year-on-year increase of 7.9%. However, the rise in energy prices limited the decline.
There is no good news to support the sugar price before the festival, and it is expected that in the short term, it will be dominated by shock and weak trend.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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