China: Sugar Semi-Annual
Link to report:
MY 2022/23 China’s sugar imports declined due to escalating world prices. Following suit, Chinese sugar prices spiked at the highest levels since 2012. As the estimates of production and consumption remain unchanged, China’s sugar stocks are trending downwards. China has announced plans to auction national sugar reserves, which has not occurred since 2016. China’s MY 2023/24 sugar production is forecast to rebound to 10 MMT, assuming normal weather in both cane and beet production areas.
