SunSirs: The Transaction is Good, and the Price of White granulated sugar Rises slightly in China
September 20 2022 10:16:24 SunSirs (Selena)
According to the monitoring of SunSirs, the average price of first-class white granulated sugar was 5,756 RMB/ ton at the beginning of last week, and 5,766 RMB/ ton at the end of last week. The price rose 0.17%, 2.05% higher than the same period last year.
Domestically, as of the end of August, 7.88 million tons of sugar had been sold nationwide, with a cumulative sugar sales rate of 82.5%; In August, the national sales volume of sugar in a single month was 1.11 million tons, which was much higher than the level of the same period in recent five years. However, the imported processing sugar increased in stages, squeezing the consumption of domestic sugar.
Brazil's 2022/2023 sugarcane output is expected to decrease by 1% to 572.9 million tons compared with the previous year. Due to the bad weather conditions during the growing season, the sugar output will decrease by 3% to 33.89 million tons, and the ethanol output will increase by 1.6% year on year. At present, raw sugar has been boosted, but Brazil has increased production, India's export policy is not yet clear, and there are still uncertainties in the future. Surplus expectations and the strengthening of the US dollar have temporarily pressured the price of raw sugar.
The final consumption of China domestic white granulated sugar is fair. In the short term, we will pay close attention to the market transaction. The market lacks good support. It is expected that the white granulated sugar price will be dominated by shock and weak trend in China.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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