国内外糖价：2025/26榨季预计平稳或震荡偏弱运行

Core Viewpoint - The Ministry of Agriculture and Rural Affairs indicates that domestic sugar prices are expected to remain stable but weak, while international sugar prices are anticipated to fluctuate weakly [1] Domestic Market Summary - The 2025/26 sugar production season has commenced, with new domestic sugar gradually entering the market - A significant amount of imported sugar is also arriving in the domestic market, leading to supply pressure - Overall, domestic sugar prices are projected to trend weakly due to these supply dynamics [1] International Market Summary - Brazil is currently experiencing a peak in sugar supply, with other major producers like India and Thailand expected to increase production - Multiple institutions forecast a loosening supply-demand balance in the global sugar market for the 2025/26 season - Although macroeconomic factors may cause short-term price fluctuations, the fundamental supply abundance is expected to dominate the market, leading to weak fluctuations in international sugar prices [1]