Price trend

According to the monitoring of SunSirs, at the beginning of this week, the average price of primary white sugar was 5,880 RMB/ton, and at the end of the week, the average price of primary white sugar was 5,890 RMB/ton, up 0.17%, and up 3.26% from the same period last year.

Analysis review

Before the festival, white sugar entered the consumption off-season, coupled with weak consumption, domestic traders were not in a high mood to replenish the stock. After the festival, foreign sugar rose sharply, which led to the increase of domestic sugar group prices. In the short term, the supply of domestic ports was short, and the price rise drove a wave of trade replenishment sentiment. With the arrival of imported sugar at the port, but the recovery of terminal demand was slow, and the reduction of domestic production in this crushing season had been basically implemented. It is also necessary to focus on the subsequent recovery of consumption and the situation of major exporting countries such as India.

India's reduction of quotas was an important factor to support the rise of raw sugar. India is the regulator of the market. The reduction of quotas promoted the price rise. After the price rise, there would be more export profits, and may continue to open quotas. If the sugar price is too low, India will not continue to increase the quota, thus supporting the lower limit of sugar price.

Market outlook

The cost of imported sugar is high, and the quantity of imported sugar is restrained. With the domestic production reduction and the arrival of the peak consumption season, the sugar price will be supported. It is expected that the white sugar market will mainly fluctuate at a high level in a short term.

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