According to the monitoring of SunSirs, the average price of first-class white granulated sugar at the beginning of this month was 5,730 RMB/ton, and the average price of first-class white granulated sugar at the end of this month was 5,786 RMB/ton, with a price increase of 0.98% and 0.98% compared with the same period last year.

Domestic market: The spot price of new sugar rose steadily in December, and sugar cane in South China entered the stage of centralized crushing. There were 16 sugar mills in three major groups in Zhanjiang, and as of December 26, there were 73 sugar mills opened. Only one sugar factory has not been opened this season, and it is expected that it will be opened this week; In late December, Guangxi Sugar Factory entered the peak period of squeezing, and it is expected that the industrial inventory will increase rapidly in the future.

In December, the rainfall in Brazil was too much to hinder harvesting. The amount of sugar cane harvested in December may be lower than expected. In Thailand, sugar cane was squeezed slowly due to rainfall. The overall supply side was tight or continued until January next year. The price trend was strong, 20/20.5 cents/pound may become a short-term support. In the later stage, we will pay attention to the crushing situation in major international producing countries.

India: As of December 15, 2022/2023, India produced 8.21 million tons of sugar, 7.79 million tons in the same period last year, an increase of 420,000 tons year-on-year. There were 497 sugar mills, an increase of 18 on a year-on-year basis. Thailand: The opening of sugar mills in Thailand continues to be delayed. Although sugar mills in the north and northeast are gradually on the right track, and rainfall continues in the central main production areas, 10 sugar mills plan to delay opening of sugar mills until early January. As of December 20, 46 sugar mills have opened, compared with 56 (only one has not opened) in the same period last year. It is expected that the export supply of sugar in Thailand will be tight until January.

It is expected that sugar prices will be dominated by shock consolidation in the short term.

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