China: Sugar Semi-annual

  |   Attaché Report (GAIN)   |   CH2021-0118

The sugar production forecast for MY21/22 (October – September) is revised down to 10.3 MMT on slower than expected growth in cane acreage and more sugar beet acreage losing out to corn. Low world sugar prices in MY20/21 boosted China’s imports to nearly 5.9 MMT with many destined for stocks which will prevent Chinese domestic sugar prices from spiking during MY21/22 as production slows and consumption grows.

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