As for raw sugar, the premium for raw sugar produced in Thailand also fell slightly due to the recent drop in the price of raw sugar in New York, but there was almost no transaction. Traders are waiting for Indonesia to purchase more than 2 million tons of raw sugar in 2011.
A Singaporean trader said that it can be said that Indonesia plans to purchase more than 2 million tons of raw sugar to support the rise of Thai raw sugar. It is estimated that this year's market surprise will be China. If China's sugar production is lower than expected, China may be forced to increase its sugar purchases. The current domestic and domestic sugar price has exceeded US$1,050/tonne, which has made Very high price.
Earlier news said that China has been buying sugar to increase sugar inventories, but no one knows the situation. Last month, the Beijing government placed some reserve sugar on the domestic market to curb rising food prices. Historically, China generally imports sugar from countries such as South Korea, Australia, Cuba, Brazil, and Thailand.
At present, the premium for sugar produced by Thai sugar for the 1103 sugar market in London has fallen from US$30-70/ton last week to US$15-20/ton. The price of white sugar produced in India is relatively stable. It is said that a U.S. trading company bought some Indian white sugar at a price of 765 U.S. dollars per ton. It is estimated that the white sugar will be sold to Indonesia later.
Recently, Indonesia has issued an import license (industrial sugar) for importing 2.43 million tons of raw sugar in 2011, which is 5% higher than the import volume in 2010. In addition, to prevent a gap in domestic supply, Indonesia also plans to import 450,000 tons of civilian sugar in 2011. The Indonesian state-run PT PPI trading company has already imported 30,000 tons from Thailand and India. It is estimated that other state-owned companies will also in the next few weeks. Will start importing sugar.
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