白糖日报-20250722

Group 1: Report Information - Report Name: Sugar Daily Report [1] - Date: July 22, 2025 [2] - Researcher: Wang Haifeng, Lin Zhenlei, Yu Lanlan, Hong Chenliang, Liu Youran [3] Group 2: Market Review and Operation Suggestions - Futures Market: On Friday, the New York raw sugar futures rebounded slightly. The main October contract closed up 0.3% to 16.79 cents per pound. The London ICE white sugar futures' main October contract closed up 0.8% to $487.70 per ton. The news that Coca - Cola was called on by the US President to resume using sucrose as a raw material stimulated the sugar price to some extent, but Coca - Cola's response was not positive. The main logic supporting the strength of raw sugar was the poor production data in Brazil. The Zhengzhou sugar main contract fluctuated within a narrow range. The 09 contract closed at 5,839 yuan per ton, up 11 yuan or 0.19%, with an increase of 7,069 contracts in positions. The domestic spot prices in the producing areas rose slightly, with the price in Nanning at 6,100 yuan and in Kunming at 5,860 yuan. Zhengzhou sugar followed the rhythm of raw sugar. Fundamentally, the import volume increased in June, and the pressure of processed sugar would increase later. Although the domestic commodity market generally rose recently due to the anti - involution theme, Zhengzhou sugar was basically unaffected [7][8] Group 3: Industry News - Import Data: In June 2025, China imported 11.55 tons of syrup and premixed powder (tax - included tariff numbers 1702.90, 2106.906), a year - on - year decrease of 10.35 tons. From January to June 2025, the total import was 45.91 tons, a year - on - year decrease of 49.24 tons. As of June in the 2024/25 sugar - crushing season, the total import was 109.83 tons, a year - on - year decrease of 26.95 tons. In June 2025, China imported 42 tons of sugar, a year - on - year increase of 39.23 tons. From January to June 2025, China imported 105.08 tons of sugar, a year - on - year decrease of 25.12 tons, a decline of 19.29%. As of June in the 2024/25 sugar - crushing season, China imported 251.26 tons of sugar, a year - on - year decrease of 64.93 tons, a decline of 20.54% [9] - Production Data: In June 2025, China's dairy product output was 254.6 tons, a year - on - year increase of 4.1%; from January to June, it was 1,433 tons, a year - on - year decrease of 0.3%. In June 2025, China's beverage output was 1,842.8 tons, a year - on - year increase of 3.2%; from January to June, it was 9,308.9 tons, a year - on - year increase of 2.9% [9] - Shipping Data: As of the week ending July 15, the number of ships waiting to load sugar at Brazilian ports was 77, compared with 90 in the previous week. The quantity of sugar waiting to be loaded at ports was 309.43 tons (the quantity of high - grade raw sugar was 304.18 tons), compared with 368.55 tons in the previous week, a month - on - month decrease of 59.12 tons, a decline of 16.04%. The quantity of sugar waiting for export at Santos Port was 239.61 tons, and at Paranagua Port was 45.12 tons [9] Group 4: Data Overview - Figures: The report includes figures such as the spot price trend, the basis of the 2509 contract, the SR9 - 1 spread, the import profit of Brazilian raw sugar, the number of Zhengzhou Commodity Exchange warehouse receipts, the Brazilian real exchange rate, and the trading volume and positions of the top 20 seats of the Zhengzhou sugar main contract [15][18][20] - Table: The table shows the trading volume, position changes, and other data of the top 20 members in the Zhengzhou sugar futures market [22]