Ministry of Agriculture and Rural Affairs: International sugar price forecast range lowered to 19.5-23 cents/pound

Golden Ten Futures, May 10, the Ministry of Agriculture and Rural Affairs released an analysis of the supply and demand situation of China's agricultural products in May, which mentioned that this month, China's sugar production in 2023/24 is coming to an end, thanks to the sharp increase in sugarcane production in the south, the national sugar production recovery growth; international sugar supply is expected to improve, and the estimated range of international sugar prices is reduced to 19.5-23 cents/lb. Due to the improvement of sugar planting efficiency, the comparative advantage with competitive crops is highlighted, farmers' planting enthusiasm is improved, and the weather conditions are generally normal. This month, it is predicted that the sown area of sugarcane in 2024/25 will increase slightly, the sown area of sugar beet will increase significantly, and the sugar production will maintain a recovery growth, which is expected to increase to 11 million tons. Consumption is basically flat, and the domestic sugar production demand gap will narrow. < br > < img src = "https://flash-scdn.jin10.com/233c8bfc-8339-4a47-b973-0fcf6f98e724.png" referrerpolicy = "no-referrer" >