According to the monitoring of the commodity market analysis system of SunSirs, the average price of domestic first grade white sugar was 6,644 RMB/ton on June 17th, and the average price of domestic first grade white sugar was 6,604 RMB/ton on June 25th, with a price increase of 0.6% and a decrease of 8.1% compared to the same period last year.

In terms of domestic spot goods, the overall purchasing and selling atmosphere in the sugar market is still weak, with average transactions. There has been no change in the control policy for syrup premix powder, and it is expected to remain at a high level. The increase in production on the domestic supply side and the expected limitations on imported sugar have limited upward space. Overall, the market has sufficient supply of sugar sources and the fundamentals are relatively empty. Recently, the price difference between processed sugar and Guangxi sugar has narrowed, which is not conducive to Guangxi sugar destocking and may have a certain impact on sales.

Due to insufficient domestic production and demand, a large amount of imported sugar is needed to make up for the supply and demand gap in the domestic market. In May, China imported a total of 214,900 tons of syrup and premixed powder, which is significantly higher than the same period last year, with a year-on-year increase of 68,300 tons. The decrease in raw sugar has led to a decrease in import costs, and there is an expected increase in long-term sugar imports.

The domestic sugar market procurement is mainly based on rigid demand, and it is expected that sugar prices may fluctuate mainly in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.