Sugar Price Rises in ChinaSince last March, the sugar price in main sugar producing areas of Guangxi, Guangdong, Yunnan rises sharply with spot price going up from less than 2,000 yuan of last December to 3,000 yuan per ton, reaching the cost price of last year and tend to go up continually.The price in other regions has topped over 3,000 yuan per ton and that of Harbin stands at 3,400 yuan per ton. According to customs statistics, sugar import from January to April via various ports of Guangdong province has reached 0.113 million tons valued at 15.99 million dollar, a rise by 76.3% and 10% respectively as compared to the same period of last year. The processing trade imported 0.112 million tons, covering 99% of the total import, a rise by 76.6% and general trade imported 377 tons, declining by 14.9%. The price rise in sugar is caused by the reversion of relations between demand and supply and the macro adjustment by the state. Guangdong is one of the three sugar production bases with its daily production capacity at 160 thousand tons. But as domestic sugar production is highly seasonal, the production equipment of sugar refineries is laid off in most of the time of a year. In order to solve this problem, Guangdong has promoted processing trade in recent years with an annual importation of 300 thousand tons of raw sugar. During the fist quarter of this year, domestic production of sugar was in peak season while raw sugar importation for processing trade was 0.108 million tons, almost the double that of last year. Besides, the province has also adopted some measures to decrease modestly the sugar plant producing area. |
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