Domestic Sugar Market Price Update: Adjustments in Guangxi, Yunnan, and Refined Sugar Mills
Today, domestic sugar market prices saw minor adjustments. Spot prices for Guangxi white sugar slightly decreased, with local sugar groups lowering their offer ranges. Yunnan sugar groups and refined sugar mills also generally reduced their prices by 10 CNY/ton. Approaching the May Day holiday, market sentiment is cautious, leading to conservative, need-based purchasing from downstream buyers and overall subdued transaction volumes.
Today, the domestic sugar market witnessed localized price adjustments. In Guangxi, the spot transaction price for white sugar was 5337 CNY per ton, marking a decrease of 7 CNY from the previous day. Major sugar groups in Guangxi are currently offering prices ranging from 5310 to 5400 CNY per ton, with some enterprises having already lowered their quotes by 10 CNY.
Concurrently, sugar groups in Yunnan also adjusted their prices, setting their range between 5140 and 5220 CNY per ton, a general reduction of 10 CNY. For refined sugar mills, the mainstream offer range is between 5600 and 5880 CNY per ton, with some individual manufacturers also reducing their prices by 10 CNY.
Market analysis indicates that as the May Day holiday approaches, the overall trading sentiment has become more cautious. Downstream buyers are primarily adopting a need-based purchasing strategy, fulfilling only immediate requirements, which has led to subdued overall transaction volumes. It is anticipated that this cautious market sentiment may persist around the holiday period.