Sugar Semi-Annual Report, China – 7th October 2021

The sugar production forecast for MY21/22 (October – September) is revised down to 10.3 MMT on slower than expected growth in cane acreage and more sugar beet acreage losing out to corn. Low world sugar prices in MY20/21 boosted China’s imports to nearly 5.9 MMT with many destined for stocks which will prevent Chinese domestic sugar prices from spiking during MY21/22 as production slows and consumption grows.