Mainly due to the influence of the external market, American sugar began to decline in early February, and has now fallen by about 25%. Judging from the supply and demand of white sugar in the world, sugar production is surplus.

China mainly relies on its own supply of white sugar. With the collapse of the external market, the price of sugar at home and abroad has gradually shrunk, and the market has the expectation of importing sugar. This expectation is actually stronger than the impact of drought. After all, drought will affect the output of sugar next year. This year's sugar harvest season is drawing to a close, and the output is basically determined, but the expectation of importing sugar is likely to be verified this year.

However, I still think that this phenomenon is short-lived. Fundamentally speaking, the trend of sugar this year is bullish. If sugar imports really become a reality, it will also play a strong role in promoting the international market. Judging from the development speed of China, sugar import is a matter of time.