BEIJING, March 24 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms, analyzes sugar price trends.
Recently, the major sugar producing area Guangxi has suffered a serious drought, which resulted in a decline in sugar cane cultivation and sugar production also. Frbiz analysts explain that because of the cut in production impact, sugar prices have recently been volatile, and compared with last year's Mid-Autumn Festival has risen around 30%. However, although there was a consensus forecast of disaster, changes in the international price of sugar are yet to be seen.
Guangxi has an area of 395.74 thousand hectares of crops affected by drought. Affected by large-scale decrease in cultivation of sugar cane, sugar production is expected to fall. Since February, sugar production was cut by 150,000 to 170,000 tons, while the market widely expects the cut in total production will reach 300,000 tons.
Analysts expect that the country's sugar production will decrease by about 11% (http://www.frbiz.com/catalog-01000000-1/Agriculture.html ), which will directly promote the rise sugar prices to 5,000 RMB/ton.
At present, some people think that sugar prices will climb to 6,000 RMB/ton. There are opposing views because of the production from the largest sugar-producing country, Brazil, and the second largest sugar-producing country, India, which is expected to increase production. If so, the international price of sugar will continue to weaken, suppressing Chinese sugar prices as well.
Frbiz's analysts explain that there is still a gap between the Chinese sugar prices and those abroad, if the Chinese import merchants and processors do more, the international price of sugar may not be so weak.
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SOURCE Frbiz.com
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