SunSirs: The Price of White Sugar has increased during the Peak Consumer Season in China

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of domestic first grade white sugar at the beginning of the week was 7,164 RMB/ton, and the average price of domestic first grade white sugar at the end of the week was 7,166 RMB/ton, with a price increase of 0.03% and a price increase of 22.50% compared to the same period last year.

China imported 40,000 tons of sugar in June, a year-on-year decrease of 100,000 tons. In the first half of 2023, China imported a total of 1.1 million tons of sugar, a year-on-year decrease of 660,000 tons. As of the end of June during the 2022/2023 squeezing season, China had imported 2.87 million tons of sugar, a year-on-year decrease of 730,000 tons.

As of June 15, 2022/2023, India's sugar production has reached 32.96 million tons, a year-on-year decrease of 2.46 million tons. Among them, Uttar Pradesh has the highest output of 10.54 million tons, while Madhya Pradesh has a sugar output of 10.53 million tons, which is lower than that in the last pressing season.

During the peak domestic consumption season, the short-term trend of sugar prices will still be under pressure from the acceleration of Brazil's squeezing, and the upward space is limited. It is expected that white sugar will mainly fluctuate at high levels in the short term.

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