SunSirs: Driven by the Market Rise, China White Sugar Price Increases

According to the monitoring of the commodity market analysis system of SunSirs, the average price of first grade white sugar in China was 5,953 RMB/ton at the beginning of the week, and 5,966 RMB/ton at the end of the week, with a price increase of 0.22%.

On the domestic front, driven by the rise in the market, the pressure on sugar factories to sell goods has decreased, and the speed of market sales has slightly increased. Industry insiders have increased confidence in the future market. Guangxi sugar companies have raised their quotations by 10 RMB/ton, with a reference price of 5,900-6,000 RMB/ton including tax, and a reference price of 5,720-5,810 RMB/ton including tax in the Yunnan market.

Internationally, the implementation of Brazil's E30 ethanol policy may lead to a long-term shift in sugarcane resources towards ethanol, potentially reducing sugar production by approximately 1 million tons during the 2025/26 crushing season. India's export quota for 2024-25 is limited, and although the production for the 2025/26 crushing season is expected to reach 35 million tons, the ethanol diversion policy may restrict actual exports.

Domestic white sugar prices have been affected by the rise in the market, and it is expected that in the short term, white sugar prices will mainly fluctuate and strengthen.

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