SunSirs: Weak Demand, China White Granulated Sugar Price is Falling
January 16 2023 14:24:18 SunSirs (Selena)
According to the monitoring of SunSirs, the average price of primary White granulated sugar at the beginning of last week was 5,764 RMB/ton, and the average price of primary White granulated sugar at the end of last week was 5,758 RMB/ton, down 0.10%, and up 0.45% from the same period last year.
At present, the domestic market has been fully exploited, and the preparation for the Spring Festival has ended. The weak market demand will continue to test the sugar price. By the end of December 2022, 3.25 million tons of sugar will be produced in 2022/2023, with a year-on-year increase of 470,000 tons; The country has sold 1.5 million tons of sugar, a year-on-year increase of 210,000 tons, and the cumulative sugar sales rate is 46%.
By the end of the second half of December in the 2022/2023 squeezing season, the cumulative squeezing volume in the central and southern regions of Brazil was 54.1569 million tons, with a year-on-year increase of 3.63%; The cumulative sugar ratio was 45.93%, an increase of 0.90% from 45.03% in the same period last year; The cumulative sugar production was 33.462 million tons, an increase of 1.401 million tons from 32.061 million tons in the same period last year, with a year-on-year increase of 4.37%.
China domestic White granulated sugar market has entered the off-season of consumption, and the domestic sugar mills have entered the peak period of squeezing, and the market supply has increased, which will be dominated by a weak trend in the short term.
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