According to the monitoring of the commodity market analysis system of SunSirs, the average price of domestic first grade white sugar at the beginning of the week was 6,650 RMB/ton, and the average price of domestic first grade white sugar on the weekend was 6,674 RMB/ton, with a price increase of 0.36% and a decrease of 3.05% compared to the same period last year.

With the warming weather, there is an increase in demand, which supports sugar prices. As of April 30, 2023/2024, Yunnan Province has cumulatively squeezed 15.384 million tons of sugarcane and produced 2.0227 million tons of sugar, a year-on-year increase of 22,400 tons; The sugar production rate was 13.15%, a year-on-year decrease of 0.11%. The sugar making enterprises in Guangxi's spot market maintain a first-line quotation of 6,510-6,550 RMB/ton.

Internationally, the sugar production ratio in Brazil is expected to remain high during the 2024/2025 crushing season, and there is a high probability that the overall high yield will be maintained during the new crushing season after improved rainfall; India and Thailand have raised the minimum purchase price for sugarcane during the 2024/2025 crushing season in an attempt to increase production after the reduction. The EU's sugar beet planting area is also expected to recover, and there is a high possibility that raw sugar will continue to weaken in the medium term.

The domestic market is accelerating its sales, and it is expected that the price of white sugar will be mainly volatile and strong in the short term.

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