SunSirs: Increased Supply, Sugar Prices Decreased in China
October 13 2023 13:55:32 SunSirs (Selena)
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 7,478 RMB/ton, while the average price of domestic first grade white sugar at the end of the week was 7,444 RMB/ton, a decrease of 0.45%, and a price increase of 29.15% compared to the same period last year.
At present, the supply of white sugar is increasing, and the driving force of Zheng Sugar is limited. The increase in import to port volume, dumping of storage, and the listing of new sugar will increase. The increase in domestic sugar supply and supply in the fourth quarter will suppress the upward momentum of domestic sugar prices, enhance its own control over prices, weaken internal and external linkage, and make it difficult to repair the situation of inverted imports outside the quota. The Ministry of Agriculture and Rural Affairs predicts that the production of sugar beets this year will slightly increase from 1.08 million tons last year to 1.1 million tons.
The latest export data shows that Brazil exported 2.4865 million tons of sugar in the first four weeks of September, with a daily average export volume of 165,800 tons, an increase of 15% compared to the daily average export volume of 143,700 tons for the entire month of September last year. The monthly export volume in September was 3,017,800 tons.
The supply of white sugar in the market has increased, and the enthusiasm for trading is weak. It is expected that the price of white sugar will mainly fluctuate at high levels.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-28 SunSirs: Adequate Supply Leads to a Decline in Sugar Prices in China
- 2024-04-23 SunSirs: Sales are Light, Sugar Prices are Falling in China
- 2024-04-15 SunSirs: Sales are Light, China Sugar Prices are Falling
- 2024-03-27 SunSirs: Market Fluctuations, China Sugar Prices Fluctuate in the First Quarter of 2024
- 2024-03-27 SunSirs: Inventory Reduction, China Sugar Price Increases
