According to the monitoring of the commodity market analysis system of SunSirs, the average price of first grade white sugar in China was 6,608 RMB/ton on July 8th, and 6,602 RMB/ton on July 12th, with a price drop of 0.02% and a price drop of 7.38% compared to the same period last year.

The year-on-year increase in domestic inventory, coupled with the strengthening of import expectations in the third quarter, has had multiple negative impacts, leading to a decline in sugar prices. In terms of demand, China has entered a sales off-season, with relatively light purchasing and sales. As of the end of June, the cumulative sales of sugar in China reached 7.3834 million tons, an increase of 505,200 tons year-on-year, with a growth rate of 7.34%; The cumulative sugar sales rate is 74.11%, a year-on-year slowdown of 2.54%.

At present, the sugarcane production areas in the northern hemisphere have entered the elongation period and require a relatively large amount of precipitation. The production areas in China and Thailand have sufficient precipitation and good soil moisture. The drought problem in the Indian production area of Uttar Pradesh has been solved, and the accumulated precipitation has reached the five-year average. The Brazilian production areas in the southern hemisphere are currently at the peak of crushing and harvesting, and there is a significant risk of production reduction in Brazil in the future.

The domestic sugar market has light trading, and it is expected that sugar prices will mainly fluctuate and weaken in the short term.

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