SunSirs: The Price of China White Sugar first Rose and then Fell Last Week (October 13-17)

According to the monitoring of the commodity market analysis system of SunSirs, the average price of first grade white sugar in China was 5,840 RMB/ton at the beginning of last week, and 5,833 RMB/ton at the end of last week, with a price drop of 0.11%.

Domestically, there is currently sufficient processing of sugar in the country, with the northern production areas fully opening for extraction and new sugar accelerating its market launch. The southern production areas are less than a month away from the opening for extraction, and the future supply is expected to increase. However, after entering the off-season, demand continues to be sluggish, and the market is clearly weak. Consumption has entered the off-season, downstream purchases and sales are lukewarm, and the trade side has a strong intention to avoid risks. In the short term, the attitude towards restocking is negative, mainly focusing on sales orders and fast delivery of small batches.

In terms of imports, the sugarcane crushing volume in the central and southern regions of Brazil in the second half of September was 40.855 million tons, compared to 38.844 million tons in the same period last year, an increase of 5.18% year-on-year; The sugar production was 3.137 million tons, compared to 2.832 million tons in the same period last year, an increase of 10.76% year-on-year.

The domestic supply of white sugar is sufficient, and market transactions are lower than expected. It is expected that the price of white sugar will mainly fluctuate and weaken in the short term.

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