News summary
The domestic white sugar futures market was active, with the main contract of 2409 rising 0.0%888pokerinstantplay.81%, and the spot prices of sugar companies in Kunming, Dali and other places are stable. Yunnan's sugar output increased slightly in the 2023/24 crushing season, but the sugar sales rate declined and inventories increased year-on-year.
Newsletter text
In early trading today, the domestic white sugar futures market rose slightly, with the main contract 2409 in the morning.888pokerinstantplayThe transaction closed at 6198 yuan/ton, an increase of 50 yuan or 0.81% compared with the previous trading day.
Sugar companies in the Kunming market quoted a price of 6,270 - 6,310 yuan/ton this morning, which is consistent with last Friday's offer. At the same time, some merchants quoted prices ranging from 6,250 to 6,280 yuan/ton, and the specific transaction situation requires further attention.
Merchants in Dali and Xiangyun markets quoted prices of 6,220 - 6,240 yuan/ton, and the transaction situation also remains to be seen.
[As of May 22, Yunnan sugar companies have ended production in the 2023/24 crushing season.] During this crushing season, as of April 30, the total amount of sugarcane pressed in Yunnan Province reached 15.384 million tons, and 2.0227 million tons of sugar were produced, an increase of 22,400 tons from last year.
In terms of output, the sugar yield rate was 13.15%, a decrease of 0.11% compared with the same period last year. The cumulative sales volume of new sugar was 941,100 tons, a year-on-year decrease of 102,500 tons. The sugar sales rate was 46.53%, a decrease of 5.64% from last year. Sugar industry stocks were 1.0816 million tons, an increase of 124,900 tons year-on-year.