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Supply-demand Balance of Sugar Market

China Agriculture Report By CnAgri2017-12-06 14:24:34China Agriculture Report Print
Production: according to the prediction from the Sugar Association, based on the 9.8282 million tons production in 2016/17, Guangxi shall see an increase of 500,000 tons in 2017/18, Yunnan up 60,000-70,000 tons, Guangdong up 130,000-140,000 tons, Inner Mongolia 30,000 tons, Heilongjiang up 75,000 tons and Hainan up 50,000-60,000 tons. Therefore the national production in 17/18 shall be about 10.20 million tons.
Import: in the new campaign China shall still exercise sugar guarantee measures, self-discipline of the industry and automatic approval for import, hence import in the new campaign shall keep at a low level. However considering the sluggish international sugar price, domestic raw sugar processing companies start to seek import from countries that are not applicable with the guarantee measures. Import may still surge in 2017/18, and the amount is estimated to be 300,000-800,000 tons.
Consumption: the Sugar Association predicts consumption around 14.9 million tons in 2016/17, but insiders deem this is too high and BOABC is in favor of the latter. So far the replacement by starch sugar cannot be evaluated, but it was learned from starch sugar producers that sugar users and soft drinks processing industry at the downstream did increase their order. However some companies informed it is not a simple replacement between starch sugar and sugar, there is also restraint from complex formula modification, change of taste, shape and storage. Therefore starch sugar can hardly replace sugar extensively.
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