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 6,676 RMB/ton, and the average price of domestic first grade white sugar on the weekend was 6,666 RMB/ton, a decrease of 0.15% in price and a decrease of 4.83% compared to the same period last year.

On the domestic side, domestic sugar on the supply side has entered a destocking cycle, and industrial inventories have increased year-on-year, overall at a low level. In the second quarter, sugar imports entered a low season, with overall weak spot prices. The cumulative import volume for this crushing season is still relatively sufficient, coupled with the opening of the processing sugar import window, the future supply pattern may gradually become loose. The demand side enters a pure sales period in April, and it is expected that demand for terminal beverages and other products will recover after the weather warms up.

Internationally, Brazil's sugar production ratio is expected to remain high during the 2024/2025 crushing season, and there is a high probability of overall high production during the new crushing season. India and Thailand have raised the minimum purchase price for sugarcane during the 2024/2025 crushing season, with the aim of increasing production after reducing production. The European Union'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 sugar market is in the off-season of consumption, and it is expected that sugar prices may fluctuate weakly in the short term.

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