candycrushcandycrushcandycrush| White sugar: The cost of sugar will rise in 2023/24, reaching a 10-year high of 6000 yuan/ton in Guangxi

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With the end of the domestic production season in 2023, the increase of sugar production has become a foregone conclusion. However, the increase in the cost of domestic sugar production has formed the price of sugar.CandycrushcandycrushcandycrushWith a certain amount of support. According to the analysis, due to the increase of sugar purchase price and the decrease of sugar production rate, the theoretical sugar production cost of white sugar increases, which is expected to reach the highest level in nearly 10 years. Especially in Guangxi, the sugar production cost of 6000 yuan per ton has reached a new high in the past 10 years. Although the decline in international sugar prices has led to a reduction in import costs, and imports are expected to increase in the second half of the year, overall, the pressure on the supply side of the white sugar market is relatively limited. In the context of rising costs, it is expected that the bottom of the spot price of white sugar will be raised, and a strong support will be formed around 6200 yuan / ton. It is worth noting that with the imminent opening of the non-quota import window, the import increment in the second half of the year is also expected to have a certain impact on the market. However, taking into account the cost factor, the production cost of sugar mills has increased greatly, which will form a strong support for sugar prices. Therefore, although the market is under some pressure, the support at the bottom of white sugar prices is expected to be strengthened.