New Control Policies Flagged after the Expiry of Protective Measures for Sugar Trade

By CnAgri 2020-07-09 16:06:45 Print Tel:861064402118-822 Email: [email protected]

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(1)The Ministry of Commerce issued a public notice on June 30th, listing sugar import beyond import quotas into the Catalogue of China's Imports of Bulk Agricultural Commodities under Import Reporting Management, to be referred to as the “Catalogue” for short. From July 1st, 2020 onward, the import reporting management will be in place.This is the latest move by supervising authorities on the management of sugar import after the expiry of the three-year sugar trade protection measures by May 21st, 2020. Import reporting covers all categories of sugar previously covered by the protection measures in trade, an indication that the government will continue its control over sugar import beyond import quotas though the practical implementation and the effect of control might still fall short of the protection measures in trade.
 
(2)Sugar output in May totaled 10.4072 million tons, down by 3.28% year on year. Sales of sugar totaled 6.3109 million tons, down by 5.35% year on year. The cumulative sales rate of sugar was 60.64%, with industrial stocks of 4.0963 million tons, up by 0.09% year on year.
 
(3)Sugar price saw a month-by-month reduction of 0.36%. This month marks the beginning of traditional busy season for sugar consumption. So sugar price stabilizes, however, due to the pandemic, sugar consumption of this crushing season is not optimistic and sugar price may not be much higher.
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