SunSirs: China Sugar Prices Have Fallen This Week (December 15-19)

According to the monitoring of the commodity market analysis system of SunSirs, the average price of first grade white sugar in China was 5,390 RMB/ton at the beginning of the week, and 5,296 RMB/ton at the end of the week, with a price drop of 1.73%.

Domestically, the cumulative imports from January to November were 4.34 million tons, an increase of 380,000 tons year-on-year. In 2025/26, the cumulative imports were 1.19 million tons, an increase of 120,000 tons year-on-year. The number of sugar mills in Yunnan has increased to 31, and the pressure on sugar mills to sell their products is gradually becoming apparent. The fundamental reason for the weakening of domestic sugar prices is the increase in imports, domestic production, and sluggish demand. The market is generally sluggish, and sugar prices continue to decline.

On the international front, major producing countries in the northern hemisphere have been gradually expanding their sugarcane production, while Brazil's sugarcane production in the southern hemisphere remains at a relatively high level. The demand for international sugar is relatively stable, and the purchasing willingness of sugar refineries is average, resulting in loose international sugar supply and demand. The sugar production exceeded market expectations, and spot prices in India continued to decline. The pressure to increase production suppressed the upward space, and the overall trend of raw sugar futures prices continued to fluctuate within the range.

Due to the increase in domestic production and sluggish market demand, it is expected that white sugar will mainly fluctuate weakly in the short term.

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