Strong consumption during the Spring Festival stimulates demand for sugar

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China Business News 2023-01-31 14:24:34

Editor in charge: Hao Yunying

During the Spring Festival holiday, raw sugar rose sharply in the United States. There are two main reasons: 1. Mabang, the largest sugarcane producing area in India, may reduce production due to excessive rainfall affecting sugarcane growth; 2. Petrobras raised gasoline prices, or suppressed Brazil’s sugar ratio this year. During the Spring Festival, the travel scale of domestic residents has increased significantly compared with previous years, and the consumption of tourism and catering has been strong, which stimulates the demand for sugar. After the festival, domestic sugar spot and futures have simultaneously increased. External raw sugar hype weather factors, strong domestic demand, more positive Zheng sugar.

Strong consumption during the Spring Festival stimulates demand for sugar

During the Spring Festival holiday, raw sugar rose sharply in the United States. There are two main reasons: 1. Mabang, the largest sugarcane producing area in India, may reduce production due to excessive rainfall affecting sugarcane growth; 2. Petrobras raised gasoline prices, or suppressed Brazil’s sugar ratio this year. During the Spring Festival, the travel scale of domestic residents has increased significantly compared with previous years, and the consumption of tourism and catering has been strong, which stimulates the demand for sugar. After the festival, domestic sugar spot and futures have simultaneously increased. External raw sugar hype weather factors, strong domestic demand, more positive Zheng sugar.

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