SunSirs: Weak Demand, China Sugar Prices Falling

According to the monitoring of the commodity market analysis system of SunSirs, the average price of first grade white sugar in China was 6,030 RMB/ton at the beginning of last week, and the average price of first grade white sugar in China was 5,946 RMB/ton over the weekend, with a price drop of 1.38%.

On the domestic front, low-priced imported raw sugar has gradually arrived at the port, and a large number of processed sugar products have been launched, squeezing the sales of domestic sugar. The peak consumption season this summer is not prosperous, and residents are cautious in their spending. The downstream industries have poor start-up efficiency. In order to reduce costs, low-priced substitute sugar consumption has been increased, and the expectations of sugar companies to achieve good results have been dashed. With the arrival of the beginning of autumn this week, there are expectations of a decrease in the demand for essential sugar by end users. Multiple negative factors are mixed, putting pressure on the domestic sugar market, and the price of white sugar has continued to weaken this week.

In terms of demand, consumption in the hot summer peak season is coming to an end, but there is still a long time to go before the Mid-Autumn Festival. Domestic sugar consumption has entered a vacuum period, and the terminal has no intention of stocking up. The traders are constrained by the current situation of loss making transactions, so the purchasing power is low, and domestic sugar prices are under pressure.

The domestic white sugar market is facing a combination of negative factors, and it is expected that the price of white sugar will mainly fluctuate and weaken in the short term.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.