After Silk And Cotton, Sugar Prices Were Sent To Historical Highs

Subsequent silk After cotton, sugar prices were sent to historical highs. On October 8, the continuously hot price of sugar in Guangxi hit a new high, with the middlemen offering 5950 yuan/ton, setting a new record for the price of sugar in Guangxi. The wholesale price of some major sugar regions in China has exceeded 6000 yuan/ton. At the same time, under the influence of the rising international sugar price, the price of Zheng sugar rose to another high of 5800 yuan/ton.

According to the latest data from Guangxi Sugar Network, the wholesale price of sugar in Xi'an, Wuhan, Shanghai, Harbin and other major sugar consuming cities has exceeded 6000 yuan/ton, all at a historical high.

The futures market is also booming. Although the trading day of October 8 is followed by a two-day weekend futures Investors' attention to Zheng Tang has not decreased at all. The main white sugar contract 1105, with a trading volume of more than 1.1 million hands last Friday, increased daily positions by 69520 hands, the highest price was 5803 yuan, the closing price was 5774 yuan, the settlement price was 5763 yuan, and the settlement price was 92 yuan higher than the opening price.

Guangxi is the largest sugar producing province in China. From 2009 to 2010, Sugar produced in Guangxi It accounts for 66% of China's sugar production, and Guangxi sugar price has always been the vane of China's sugar price. Qiu Dong, deputy director of the Commission of Industry and Information Technology of Guangxi Zhuang Autonomous Region, said in an interview with the media that at the end of 2008, sugar prices began to rebound from the bottom, reaching 3000 yuan/ton and 4000 yuan/ton from the lowest 2700 yuan/ton. After breaking the 5000 yuan/ton mark at the end of 2009, sugar prices have been hovering at a high level.

Qiu Dong pointed out that the sugar price has increased by 70% compared with the same period last year. The purchase price of sugarcane in Guangxi is linked to the price of sugar. At the current price, the sugarcane farmers in Guangxi are expected to increase their income by about 100 yuan per ton of sugarcane this year.

Qiu Dong believes that China's sugar price has been rising for several days, and the main reason is the reduction of sugarcane production in Guangxi, the main sugar producing area. According to the statistics provided by Guangxi Agriculture Department, Guangxi, which suffered from severe drought this year, was hit by more than 4 million mu of sugarcane at the most serious time. Due to the serious disaster, the sugar content in the crushing season from 2010 to 2011 will inevitably decrease.

The soaring price of sugar in the wholesale market has also led to the rise of the price in the consumer terminal market. As the main sugar producing areas in Guilin, Nanning, Liuzhou and other places in Guangxi, as early as the eve of the Spring Festival in 2009, the price of sugar has been 8 to 9 yuan per kilogram. Since September, the price of some supermarkets has even risen to 11 yuan per kilogram.

On September 30, the Ministry of Commerce announced the Detailed Rules for the Application and Distribution of Sugar Import Tariff Quotas in 2011. The amount of sugar import tariff quotas in 2011 was 194.5 tons, of which 70% were state-owned trade quotas. The import quantity shows that the domestic demand is far greater than the supply level, and the domestic sugar production is far from self-sufficient.

Some economists believe that, on the premise that the rise of some commodity prices has become a well-known trend, consumers do have a certain psychological tolerance for the rise of sugar prices. Therefore, the rise of prices will not give consumers a signal of "demand exceeds supply", and "rush buying" will not occur.