SunSirs: The Price of White Sugar is temporarily Stable in China

According to the monitoring of the commodity market analysis system of SunSirs, the average price of domestic first grade white sugar at the beginning of the week was 6,290 RMB/ton, and the average price of domestic first grade white sugar at the end of the week was 6,290 RMB/ton, with prices temporarily stable.

The expectation of domestic production increase is stable, and nearly 90% of sugar factories in Guangxi have started to operate. The tight spot situation is gradually easing, and the peak period of crushing will enter in mid December. The supply of new sugar will increase significantly, and the expectation of domestic easing is relatively clear. It is reported that the customs have sent a letter to Thailand to initiate food safety inspections. During the inspection phase, the import of syrup and pre mixed powder may be suspended, which will boost the price of Zhengzhou Sugar in the short term. However, coupled with the domestic production increase cycle, the continued upward potential of Zhengzhou Sugar is expected to be suppressed.

Internationally, the focus of transactions has shifted from Brazil to the Northern Hemisphere, and attention is being paid to the progress of the Northern Hemisphere's expansion in the future. Prior to December, the actual supply in the northern hemisphere was limited. If Brazil's exports rapidly decline in the later period, there is a possibility of a temporary tightness in sugar trade flow before the first quarter, which is expected to support raw sugar prices

Domestic white sugar and new sugar are being sold in large quantities, with sufficient market supply and stable transactions. It is expected that the price of white sugar will mainly fluctuate in the short term.

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