China Domestic Sugar Market Price Update: April 16, 2024
On April 16, 2024, China's domestic sugar market saw slight price movements. Spot transaction prices for Guangxi white sugar experienced a minor dip, while major sugar mill groups in Guangxi and Yunnan generally raised their quotations. Processed sugar factories maintained a broad price range, with some individual adjustments downwards. The rise in futures prices stimulated downstream inquiries, leading to an increase in spot market trading volumes.
On April 16, 2024, China's domestic sugar market witnessed subtle adjustments in its pricing structure. The spot transaction price for white sugar in Guangxi was recorded at 5277 yuan/ton, showing a marginal decrease of 2 yuan/ton from the previous day. Concurrently, major sugar mill groups in Guangxi set their quotation range between 5280 and 5360 yuan/ton, with most entities increasing their prices by 10 to 20 yuan/ton. Sugar mills in Yunnan followed suit, adjusting their price range to 5130 to 5210 yuan/ton, reflecting a general increase of 20 yuan/ton. For processed sugar, mainstream factories quoted prices ranging from 5560 to 5850 yuan/ton, though a few individual producers lowered their quotes by 10 yuan/ton.
In terms of market activity, the futures prices for sugar showed strength during the trading session, which significantly boosted inquiry enthusiasm from downstream end-users. This surge in demand prompted most sugar mill groups to adjust their quotations two to three times within the day to respond to market changes, consequently leading to an increase in spot market trading volumes.