According to the monitoring of SunSirs, the average price of first-class white granulated sugar at the beginning of this month was 5,750 RMB/ ton, and the average price of first-class white granulated sugar at the end of this month was 5,726 RMB/ ton. The price fell by 0.42%, and the price rose by 0.63% compared with the same period last year

The domestic spot market in October was sold normally. Affected by the exchange rate, the import cost outside the quota was about 6,740-6,820 RMB/ ton, and the internal and external price difference was further expanded. As of the end of September, 890,000 tons of old sugar had been carried forward, which still had an impact on the terminal purchasing sentiment. In the case of sufficient staged supply, the price lacked upward momentum.

The countries of the Eurasian Economic Union have produced 2.86 million tons of sugar, an increase of 11% over the same period. Among them, Russia produces 2.64 million tons of sugar (2.4 million tons in 2021), Belarus 1.993 million tons (167,000 tons in 2021), Kazakhstan 35,000 tons (20,000 tons in 2021) and the Kyrgyz Republic 15,800 tons (11300 tons in 2021). Russia has harvested 615,000 hectares (60% of the total area of sugar beets), 27.5 million tons of sugar beets, 13% more than last year.

According to the data released by the General Administration of Customs, China imported 777,100 tons of sugar in September 2022, an increase of 13.81% month on month and a decrease of 10.66% year on year. Under the general environment of sufficient domestic sugar supply, it is expected that the sugar price will be weak in China.

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