SunSirs: Weak Demand, Sugar Prices Fall in China in December
December 29 2023 14:57:43 SunSirs (Selena)
According to the commodity market analysis system of Shengyishe, the average price of first grade white sugar at the beginning of this month was 7,160 RMB/ton, and at the end of the month, the average price of first grade white sugar was 6,704 RMB/ton, a decrease of 6.37% in price and an increase of 15.87% compared to the same period last year.
In December, the demand for white sugar in the market weakened, and the downstream food industry mainly relied on replenishment for immediate needs. Due to the slowdown in market sales and the expectation of new sugar going public during the handover of the new and old squeezing seasons, in order to avoid the risk of price decline, traders generally maintained a low inventory state and had low intentions to hoard. Beverages, as the main downstream application field of white sugar, have seen a decline in market demand for beverages as the weather cools down.
The sugar production in central and southern Brazil increased significantly year-on-year in the first half of December, reaching 925,000 tons, an increase of 205.4%. The Brazilian Sugar Cane Industry Association stated that as of the end of December, 162 sugar mills had completed crushing, down from 214 in the same period last year, and an additional 83 sugar mills are expected to complete crushing in the second half of December.
The increase in foreign sugar production has eased the tight supply situation, coupled with the concentrated listing of new sugar in the domestic market and weak downstream transactions, it is expected that the spot price of white sugar will mainly fluctuate and weaken in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 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
- 2024-03-15 SunSirs: Sales Improved, China Sugar Prices Increased
