SunSirs: The New Sugar Extraction Season has Begun, China White Sugar Price has Fallen

According to the monitoring of the commodity market analysis system of SunSirs, the average price of first grade white sugar in China was 6,442 RMB/ton at the beginning of the week, and 6,394 RMB/ton at the end of the week, with a price drop of 0.75%.

As of November 8th, two sugar companies in Yunnan have started crushing, and it is estimated that the sugar production in Yunnan Province will increase by about 150,000 tons year-on-year during the 2024/2025 crushing season. The import volume of sugar in 2023/2024 was 4.745 million tons, a year-on-year increase of 860,500 tons, with a growth rate of 22.15%. The import dependence of the domestic sugar market in 2023/2024 is 33.65%, an increase of 6.49% year-on-year.

The Indian Sugar Energy Manufacturers Association predicts that during India's 2024/2025 crushing season, sugar production will slightly decrease to 33.3 million tons, compared to 34.06 million tons in the previous season. Brazil exported 3.7294 million tons of sugar in October, with an average daily export of 168,700 tons, an increase of 29.75% year-on-year. The production during Brazil's crushing season has been reduced to support the market, and other production areas in the northern hemisphere are expected to increase production. The focus is on weather changes and changes in domestic consumption.

Domestic white sugar and new sugar are about to be launched, and the market is in a cautious and wait-and-see stage. It is expected that white sugar prices will mainly fluctuate in the short term.

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