In November, sugar imports fell by 90%

The General Administration of Customs announced on December 21 that China’s sugar imports in November were 23,034 tons, a decrease of 34% year-on-year, and a decrease of 90.89% from the 252,882 tons imported in October. From January to November this year, China’s sugar imports increased by 57% to 1.64 million tons.

China began to enter the new crop season in November, and the sugar factory was the main reason for the sharp drop in sugar imports. According to incomplete statistics, as of December 20, the number of sugar mills in Guangxi, the main sugar producing region in China, has reached 92, accounting for 90.2% of the total number of sugar mills in the region, and the production capacity of sugar mills has been opened at 618,000 tons/day. It accounts for 95.9% of the total design capacity of the sugar factory in the region. The number of sugar mills in Guangxi and the production capacity have both opened 90%, which means that Guangxi has basically entered the stage of full-scale exploitation. Guangxi is expected to produce 60,000 tons of new sugar per day.

In addition, the third national reserve sugar auction of this crop season will be conducted today, and 200,000 tons of State Reserve sugar will be put on the market. Affected by this, on the 21st, Liuzhou sugar spot contract 10124 fell 71 yuan to close at 6,800 yuan, while the main contract 11054 rose 19 yuan to close at 6,862 yuan. Zhengzhou Office 1111 sugar contract fell 16 yuan to close at 6793 yuan, the main contract 1109 rose 41 yuan to close at 6950 yuan.