SunSirs: The Production and Sales of White Sugar Were Good, and the Price Rose Slightly
February 13 2023 09:29:50 SunSirs (John)
Price trend
According to the monitoring of SunSirs, at the beginning of this week, the average price of primary white sugar was 5,868 RMB/ton, and at the end of the week, the average price of primary white sugar was 5,878 RMB/ton, up 0.17%, and up 3.30% from the same period last year.
Analysis review
The domestic sugar production in January was slightly reduced by 126,100 tons compared with the same period last year, and the sales volume was slightly increased by 57,900 tons compared with the same period last year. The new sugar inventory of sugar factory was slightly increased by 67,400 tons compared with the same period last year. In the domestic market, the production and sales data were generally good. Guangxi's harvest will accelerate from the middle of February, and support the sugar price trend under the condition of large additional import losses.
At present, India has produced 21.61 million tons of sugar, an increase of 6% year on year. However, due to the substantial reduction in the production of Maharashtra, the final total output may decline. As of February 1, Thailand had squeezed 51.77 million tons of sugarcane, an increase of 6.3% year on year, and produced 5.6848 million tons of sugar, an increase of 12% year on year. The sugar production rate was 10.981%, and 10.41% in the same period last year.
Market outlook
The domestic production and sales data this week were good. Before the start of the new squeezing season in Brazil, the overall tight situation of the market will continue to be maintained. Under the combination of long and short factors, it is expected that the white sugar market may be dominated by volatility at high levels in the short term.
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