According to the monitoring of the commodity market analysis system of SunSirs, the average price of domestic first grade white sugar was 6,364 RMB/ton at the beginning of last week, and the average price of domestic first grade white sugar was 6,334 RMB/ton at the end of last week, with a price drop of 0.47%.

At present, the squeezing progress of sugar factories in Guangxi, the main production area, has reached 25%. In the second half of November, there will be a peak period of squeezing. With the increase of new sugar on the market, the tight supply situation will be alleviated, and the expected increase in market supply will put pressure on sugar prices. As of November 15th, there are nearly 20 sugar mills operating during the 2024/2025 crushing season in Guangxi, and new sugar has begun to be sold on the market.

The main sugarcane producing areas in Brazil continue to receive rainfall, and it is expected that the harvesting and production progress will slow down in the short term. We will pay attention to the follow-up bi weekly sugar production data in Brazil. The price of raw sugar remains firm. Despite increased expectations of reduced production in Brazil during the 2024/2025 crushing season and increased production in most countries in the northern hemisphere, the driving force behind the continued rise in raw sugar prices has weakened.

Domestic white sugar and new sugar are on the market for sale, and it is expected that the price of white sugar will mainly fluctuate and weaken in the short term.

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