Domestic Sugar Market Update: Quotations from Guangxi, Yunnan, and Refineries

On March 19, 2026, China's domestic sugar market displayed a complex trading dynamic. The spot transaction price for white sugar in Guangxi reached 5394 yuan per ton, marking an increase of 17 yuan from the previous trading day. Concurrently, major sugar-producing groups in Guangxi set their offer ranges between 5400 and 5490 yuan per ton, with some enterprises moderately raising their prices by 10 yuan per ton. In Yunnan, another key sugar-producing region in the southwest, sugar group quotations ranged from 5280 to 5320 yuan per ton, with individual companies also implementing a 10 yuan per ton increase. Furthermore, mainstream quotations from sugar refineries were comparatively higher, maintaining a range of 5680 to 5890 yuan per ton, with some refiners also making slight adjustments of 10 yuan per ton upwards. Notably, despite a significant rebound in sugar futures prices on the day, domestic sugar groups adopted an overall cautious pricing strategy in the spot market. The momentum for spot prices to follow the futures rally was relatively weak, and overall market transactions were moderate. This suggests that market participants are adopting a wait-and-see approach amidst current price fluctuations.