China: Sugar Annual

Sugar production in MY21/22 (Oct-Sep) is forecast to marginally grow to 10.6 million metric tons as rising cane sugar production is expected to offset lower beet sugar production. Some sugar beet farmers are reportedly switching to corn because of strong corn prices and rising land rent costs. With the removal of the additional safeguard on imported sugar and the expectation that sugar consumption will rebound to pre-COVID levels, sugar imports are forecast to climb to at least 5.0 million metric tons in MY21/22. Meantime, the government made changes to its 2021 tariff schedule to better monitor the growing volume of sugar syrup imports from southeast Asia.