白糖数据日报-20250820

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report - The supply is diverse during the new sugar - cane crushing season transition period, the competition between processed sugar and domestic sugar intensifies. It is expected to maintain range - bound trading [3]. - If Brazil's sugar production exceeds expectations or India relaxes sugar exports, raw sugar may test previous lows again [3]. 3. Summary by Relevant Catalog Sugar Price and Market Data - Domestic Spot and Futures Prices: On August 19, 2025, the spot price of sugar in Nanning Warehouse, Guangxi was 6040 yuan/ton with no change; in Kunming, Yunnan it was 5855 yuan/ton with no change; in Dali, Yunnan it was 5750 yuan/ton, down 100 yuan; in Rizhao, Shandong it was 6050 yuan/ton with no change. SR09 futures price was 5716 yuan/ton, down 20 yuan; SR01 was 5661 yuan/ton, down 11 yuan. The spread between SR09 and SR01 was 55 yuan, down 9 yuan [3]. - Exchange Rate and International Commodity Prices: The exchange rate of RMB against the US dollar was 7.2035, up 0.0020; the exchange rate of the Brazilian real against the RMB was 1.2818, up 0.0212; the exchange rate of the Indian rupee against the RMB was 0.084, down 0.0004. The price of ICE raw sugar's main contract was 16.24, with no change; the price of London white sugar's main contract was 573, up 3; the price of Brent crude oil's main contract was 66.46, with no change [3].