Does the sugar futures price reflect the ex-factory price of sugar factories in the main producing areas or the market price in the main selling areas?
Under normal circumstances, the pricing power of sugar is in the main producing areas. Sugarcane sugar producing areas in China are mainly distributed in Guangxi, Yunnan and Guangdong, and beet sugar is mainly distributed in Xinjiang, Inner Mongolia and Heilongjiang. Futures sugar and spot prices complement each other, and the sugar sales market will adjust the selling price in time according to the disk price.