白糖日报-20260107

Report Information - Report Title: Sugar Daily Report - Date: January 7, 2026 - Researcher: Wang Haifeng, Lin Zhenlei, Yu Lanlan, Hong Chenliang, Liu Youran [3] Market Review and Operation Suggestions - Futures Market: On Monday, the New York raw sugar futures rebounded with the March contract up 0.82% to 14.72 cents/pound. The London ICE white sugar futures March contract rose 0.6% to $421.10/ton. The SR605 contract of Zhengzhou sugar closed at 5259 yuan/ton, up 26 yuan or 0.50%, with an increase of 4843 positions. The SR609 contract closed at 5275 yuan/ton, up 25 yuan or 0.48%, with an increase of 1342 positions. The US sugar 03 contract closed at 14.72 cents/pound, up 0.12 cents or 0.82%, with an increase of 194 positions. The US sugar 05 contract closed at 14.37 cents/pound, up 0.09 cents or 0.63%, with a decrease of 2090 positions [7]. - Domestic Sugar Market: The new domestic sugar price increased. The price in Nanning was 5355 yuan/ton, and in Kunming was 5200 yuan/ton. In December, Guangxi's sugar production decreased by 800,000 tons year-on-year, mainly due to lower sugar content in sugarcane in Chongzuo. Yunnan's sugar production increased by 60,000 tons. The decline in production in Guangxi and Guangdong is conducive to the rebound of sugar prices. With the pre - Spring Festival procurement peak, sugar prices are expected to maintain a volatile upward trend before the Spring Festival [8]. Industry News - Guangxi: As of December 31, 2025, in the 2025/26 sugar - crushing season, 73 sugar mills in Guangxi had all started crushing, 1 less than the previous year. The cumulative sugarcane crushing was 16.2303 million tons, a decrease of 5.2515 million tons year - on - year; the output of mixed sugar was 1.9419 million tons, a decrease of 0.8095 million tons; the mixed sugar production rate was 11.96%, a decrease of 0.85 percentage points; the cumulative sugar sales were 0.8848 million tons, a decrease of 0.7474 million tons; the sales - to - production ratio was 45.56%, a decrease of 13.76 percentage points. In December, the monthly sugar production was 1.808 million tons, a decrease of 0.431 million tons; the monthly sugar sales were 0.7954 million tons, a decrease of 0.5518 million tons; the cumulative industrial inventory was 1.0571 million tons, a decrease of 0.0621 million tons [9]. - Pakistan: The Federal Minister for National Food Security of Pakistan, Rana Tanveer Hussain, said that the sugar price is expected to drop to 110 rupees/kg (about 2.75 yuan/kg) in the near future. The government plans to withdraw from the sugar industry [9]. - India: As of December 31, 2025, the sugar production in the 2025/26 sugar - crushing season in India reached 11.897 million tons, nearly 25% more than the same period last year. The number of sugar mills in operation was 504, 12 more than the same period last year [9]. Data Overview - The report provides multiple data charts, including the spot price trend, the basis of the 2605 contract, the SR5 - 9 spread, the import profit of Brazilian raw sugar, the warehouse receipts of Zhengzhou Commodity Exchange, the exchange rate of the Brazilian real, and the trading and position of the top 20 seats of the main contract of Zhengzhou sugar [11][14][20][17]