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[ICE raw sugar futures prices hit an 18-month low]

Due to sugar production in central and southern Brazilbaccarat550the substantial increase inbaccarat550, market expectations for sugar prices tend to be cautious. According to a report on May 13, July ICE raw sugar futures prices fell 3% to 18% per poundbaccarat550.72 cents, setting an 18-month low.

Sugar group UNICA is expected to release sugar production data in central and southern Brazil in the second half of April in the next few days. The market generally expects a year-on-year increase of about 50%.

At the same time, the analysis report on the supply and demand situation of agricultural products (000061) released by the Ministry of Agriculture and Rural Affairs of China last Friday showed that due to the improvement of sugar planting efficiency, increased farmers 'enthusiasm for planting, and generally normal weather conditions, it is expected that sugarcane planting area will be flat and slightly increased, and sugar beet planting area will increase significantly.

Sugar production is expected to maintain recovery growth and is expected to increase to 11 million tons. Consumption is basically the same, and the domestic sugar production and demand gap is expected to narrow.

ICE white sugar futures prices also fell in August, down 2baccarat550.09%, to US$557.40 per ton.