1. Sugar prices will rise in the second half of 20021.
The main contract of Zhengzhou Sugar Futures Company, 2 109, also broke through the previous high point today, with the highest intraday price reaching 5635 yuan/ton. In the past month, the market has increased by 6.9% compared with the low of 527 1 yuan/ton in mid-April. The main driving force for the rise of the domestic sugar market in the past month came from abroad. Since April, raw sugar futures have been rising all the way. Although there was a slight pullback at the end of April due to profit-taking, the expected reduction of sugar production in Brazil and the European Union still boosted sugar prices, and the fund was enthusiastic about buying. The general trend of rising commodities also drove raw sugar futures back to the price of 17.5 cents/pound.
Second, release the report on the 6th.
In April, the grain price index rose continuously 1 1 month. It is predicted that the global wheat and corn production will increase in the future. According to the report, the FAO food price index rose by 120.9 points on average in April, up by 1.7% from the previous month and up by 30.8% year-on-year. Among all kinds of food, the price of sugar ranks first, and the price of grain has resumed its upward trend. The rise of raw sugar futures directly leads to the increase of import cost. According to the current price of about 17.5 cents/pound, the import and processing costs of Brazil's raw sugar within the quota (15% tariff) and outside the quota (50% tariff) are about 4,400 yuan/ton and 5,650 yuan/ton respectively, up about 9% from a month ago.
To sum up, at present, the processing cost of over-quota import has exceeded the average production cost in Guangxi, reaching the domestic processing sugar price, which has a strong support for the domestic white sugar market.