Group 1: Industry Dynamics - Brazil's sugar and molasses exports in October reached 4.2049 million tons, an increase of 475,500 tons or 12.75% compared to October 2024's 3.7294 million tons [1] - Daily average export volume was 191,100 tons, up by 21,600 tons from 169,500 tons in October 2024 [1] - Pakistan's federal government announced that all sugar mills will officially start crushing on November 15, 2025 [1] Group 2: Market Analysis - ICE raw sugar contract for March fell by 9 points, closing at 14.13 cents per pound; London white sugar contract for March dropped by $1.9, closing at $405.9 per ton [1] - The Indian Sugar Mills Association (ISMA) projected a total sugar production of 34.35 million tons for the new crushing season, with ethanol diversion of 3.4 million tons, resulting in a net production of 30.95 million tons, indicating significant production increase [1] - Brazil's sugar export price has dropped to a discount of 0.46 cents, exerting downward pressure on raw sugar prices as the Northern Hemisphere's new crushing season approaches [1] Group 3: Domestic Market Trends - Zhengzhou sugar contract for January rose by 10 yuan per ton, closing at 5,467 yuan per ton [2] - The first sugarcane mill in Yunnan commenced crushing at the end of October, marking the start of the new supply season, while mills in Guangxi are expected to begin operations in mid-November [2] - Current spot prices for sugar in Guangxi range from 5,690 to 5,740 yuan per ton, while Yunnan's old sugar is priced between 5,530 and 5,580 yuan per ton [2]