According to the monitoring of the commodity market analysis system of SunSirs, the average price of first grade white sugar in China was 6,240 RMB/ton at the beginning of the month, and 6,268 RMB/ton at the end of the month, with a price increase of 0.45%.
As of March 1, 2024/25, Yunnan has cumulatively harvested 10.9847 million tons of sugarcane and produced 1.4003 million tons of sugar, an increase of 292,700 tons compared to the same period last year. As of February 28th, Guangxi has imported 46.4034 million tons of sugarcane, an increase of 3.2571 million tons year-on-year; 6.1671 million tons of mixed sugar were produced, a year-on-year increase of 18.94%; The sugar production rate is 13.29%.
Internationally, as of March 23 during the 2024/25 sugarcane pressing season in Thailand, the cumulative sugarcane input was 91.6207 million tons, an increase of 9.9598 million tons or 12.2% compared to the same period last year's 81.6609 million tons. Driven by favorable factors such as reduced rainfall during the sugarcane jointing period in Brazil and lower estimated production during the 2024/25 sugarcane pressing season in India, international sugar prices have been relatively strong, leading to an increase in domestic futures and spot prices.
The bottom support of domestic spot prices is strong, but the supply of domestic white sugar spot is relatively loose. Coupled with limited demand support, it is expected that white sugar prices will mainly fluctuate and maintain stability in the short term.
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