Fundamentals, an industry group said on Thursday, from the beginning of the sugar year (October 1) to January 31, Indian sugar production is expected to increase 12% to 11.2 million tons, making Market expectations of the country increased overseas sales. India is the world after Brazil's second largest sugar producing country in the fight against the country's current food inflation, traders worry that India will defer to other countries to supply the sugar. Weekly two government sources said, would the Council of Ministers of India, Ministry of Agriculture has agreed to export 50 million tons of sugar production for the plan review.
Other analysts pointed out that sugar consumption as a traditional New Year peak season, demand for larger, as sugar prices rose to provide favorable external conditions; each month frost 2,3 disaster, there are also large potential adverse factors, favorable sugar prices upward. Outlook is expected in the fundamentals, technical patterns are bullish case, the price of sugar will remain difficult or easy to rise.
Russian Customs data released on Friday showed the Russian raw sugar imports in November rose to 60,700 tons, much higher than October's 26,600 tons, due to the pull down import tariffs. Russia is the world's third largest sugar importer, the country will be in May last year, raw sugar import tariff down to 50 U.S. dollars / ton, and then in June raised to 200 U.S. dollars / ton in July was again raised to $ 239 / ton. And in August of raw sugar import tariffs dropped to $ 203 / ton, September and October dropped to $ 171, respectively, and 140 dollars.
Intercontinental Exchange (ICE) raw sugar futures fell sharply Friday, as before the long holiday weekend in the shock trading, ICE 3 月 raw sugar futures contract fell 1.17 cents, or 3.65%, to 30.89 cents a pound. It expects the market will test the popularity of 30 cents per pound key support. Turning raw sugar futures broker, a short session time-close 30 U.S. per pound, said, Sugar futures early pressure. Traders continue to focus on the news of the Indian sugar exports.
Zhengzhou, January 17 sugar futures opened higher in early trading, then finished lower, narrow income Yang. 1109 contract opened the main 7,165 yuan / ton to close at 7,174 yuan / ton, compared with 14 settlement price of 8 yuan / ton, 680,900 traded hands, positions 492,266 hands. Some analysts believe that the recent, Zheng Sugar was once the main deep-SR109 contract rate pullback, but a good strong fundamentals still support the formation of sugar prices, the overall positive fundamentals in the domestic and international circumstances, the price of sugar rose is still easy to difficult down.
Recommended reading product was in the form of the fifth wave has been reversed
· fundamentals of the domestic sugar market faces of copper uplink walking style change in 2011, sugar prices are more reasonable staggering 5,800 yuan central lower support robust high PTA Spring Run Copper & adjourned to see the million mark campaign Jingchuang: strong metal will be adjusted upward again [the domestic futures market] [position analysis system]
the domestic front, Nanning Customs data show that the year 2010, China imported 1.766 million tons of sugar, the average price of imports of $ 512.9 per tonne, volume, price was a record high since 2000. General Administration of Customs has not yet formally announced in December 2010 with annual imports of sugar. January-November 2010, China imported a total of 1,641,200 tons of sugar, an increase of 57.17%. Accordingly projections, December China imported about 124,800 tons of sugar, 23,030 tons more than November's apparent rebound, but still significantly lower than the peak from June to October between the months of imports imports.
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