China Sugar Group Quotations Update: April 9, 2024
On April 9, 2024, China's domestic sugar market saw a general downward adjustment in quotations. Guangxi white sugar spot prices settled at 5273 yuan/ton, down 12 yuan/ton. Both Guangxi and Yunnan sugar groups lowered their price ranges by 10 yuan/ton, with some processing plants also reducing their offers. Trading activity remained subdued due to the traditional off-season for sugar consumption.
On April 9, 2024, China's domestic sugar market witnessed a general downward trend in quotations. Specifically, the spot transaction price for white sugar in Guangxi was reported at 5273 yuan/ton, marking a decrease of 12 yuan/ton from the previous day. The quotation range for Guangxi sugar groups was adjusted to 5290-5430 yuan/ton, reflecting an overall reduction of 10 yuan/ton. Similarly, Yunnan sugar groups also lowered their price range by 10 yuan/ton, with current offers between 5140 and 5200 yuan/ton.
For processing sugar mills, the mainstream quotation range remained between 5590 and 5850 yuan/ton, though some mills have also reduced their offers by 10 yuan/ton. Market analysis indicates that the current period falls within the traditional off-season for sugar consumption, leading to a lukewarm trading atmosphere in the spot market and overall sluggish transaction volumes.