pennbattle3le| ICE raw sugar futures hit a new low, Brazil's sugar production increased by 50%, and China's sugar production in 2024/25 is expected to increase to 11 million tons

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[ICE raw sugar futures prices hit an 18-month low]

Due to sugar production in central and southern Brazilpennbattle3lethe substantial increase inpennbattle3le, market expectations for sugar prices tend to be cautious. According to a report on May 13, July ICE raw sugar futures prices fell 3% to 18% per poundpennbattle3le.72 cents, setting an 18-month low.

Sugar group UNICA is expected to release sugar production data in central and southern Brazil in the second half of April in the next few days. The market generally expects a year-on-year increase of about 50%.

At the same time, the analysis report on the supply and demand situation of agricultural products (000061) released by the Ministry of Agriculture and Rural Affairs of China last Friday showed that due to the improvement of sugar planting efficiency, increased farmers 'enthusiasm for planting, and generally normal weather conditions, it is expected that sugarcane planting area will be flat and slightly increased, and sugar beet planting area will increase significantly.

Sugar production is expected to maintain recovery growth and is expected to increase to 1.pennbattle3le, 1 million tons, consumption is basically the same, and the domestic sugar production and demand gap is expected to narrow.

August ICE white sugar futures prices also fell, down 2.09% to US$557.40 per ton.