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6-China to Conduct First Sugar Reserve Sale in Seven Years Amid Supply Tightening

Amid the ongoing tightening supply and surging price of sugar, China will conduct an auction of the state <br>sugar reserves to stabilise the supply and rising prices of sugar. This will be the first sugar reserve <br>auction since 2016. Chinau2019s state reserve management body informed that it would auction around <br>126,700 metric tons of sugar.<br>

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6-China to Conduct First Sugar Reserve Sale in Seven Years Amid Supply Tightening

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  1. China to Conduct First Sugar Reserve Sa China to Conduct First Sugar Reserve Sale in Seven Years Amid Supply Tightening Tightening le in Seven Years Amid Supply Amid the ongoing tightening supply and surging price of sugar, China will conduct an auction of the state sugar reserves to stabilise the supply and rising prices of sugar. This will be the first sugar reserve auction since 2016. China’s state reserve management body informed that it would auction around 126,700 metric tons of sugar. The Huashang Reserve Commodity Management Centre said the floor price for 26,700 tons of old-crop sugar would be $890.40 per ton (6,500 yuan) and the floor price of 100,000 tons of sugar produced in 2023 would be $999.95 per ton (7,300 yuan). As the global prices of sugar are at a 12-year high, the Chinese import and domestic sugar output declined. According to the analysts, this auction’s volume is less than the expectation of 300,000- 500,000 metric tons, also there is uncertainty about future auctions of sugar. China’s Sugar Import China is one of the largest sugar-consuming nations. China is dependent on Brazil for the sugar imports. In 2022, Brazil exported sugar and sugar confectionery items to China worth $1.69 billion. In 2021-22, China imported around 5.66 million tons of sugar worth $2.28 billion which is up by 7.5% year on year. Beet sugar and chemically pure sucrose are the two most imported sugar varieties from Brazil.

  2. Interpretation The Chinese authorities are concerned over the surging prices of sugar and decided to auction the sugar from the state reserves. The auction of the sugar from the state reserves will be conducted after seven years. The global sugar prices are at a 12-year high, although experts are speculating on a decline in global prices as Brazil boosts its sugar production. Tradologie.com offers the best platform for your needs if you're a sugar importer looking to buy sugar in bulk or a sugar exporter looking to export sugar in bulk. With the help of Tradologie.com, bulk sugar trade is possible for all types. Tradologie.com platform makes it possible for customers to purchase rice, sugar, wheat, and spices, among other high-quality agricultural products, at flexible prices. Tradologie.com is a digital platform that connects buyers and sellers of bulk agro commodities across the globe. With the use of technology, Tradologie.com ensures seamless transactions between agro- exporters and importers. With 70,000+ verified suppliers from more than 150 countries and 600,000+ verified buyers worldwide, Tradologie.com is expanding quickly. If you want to register as a buyer, click here, If you want to register as a seller, click here. To stay updated about the latest developments in the agro-trading sector, follow Tradologie.com on all social media platforms.

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