Chinese sales down in year to end August
China’s sugar sales fell by 10.24% on the year to 10.24 million mt in the 2013-2014 season to the end of August, according to the latest data from the China Sugar Association, Xinhua reports. The sales to output ratio stood at 76.92%, below 91.41% a year earlier. But sales in the month of August surged 53.36% to 1.18 million mt.
Analysts said that although sugar sales were robust in August, inventory pressure remains high and this was unlikely to change in the short term.
Most sugar production companies in southern China, which supplies more than 60% of the domestic market, are struggling with financial losses due to a rapid increase in cheaper imports, the South China Morning Post reports. Production costs have exceeded 5,000 yuan per mt while for some imported sugar the figure is about 4,000 yuan. (5 September 2014)
Chinese sales down in year to end August
China’s sugar sales fell by 10.24% on the year to 10.24 million mt in the 2013-2014 season to the end of August, according to the latest data from the China Sugar Association, Xinhua reports. The sales to output ratio stood at 76.92%, below 91.41% a year earlier. But sales in the month of August surged 53.36% to 1.18 million mt.
Analysts said that although sugar sales were robust in August, inventory pressure remains high and this was unlikely to change in the short term.
Most sugar production companies in southern China, which supplies more than 60% of the domestic market, are struggling with financial losses due to a rapid increase in cheaper imports, the South China Morning Post reports. Production costs have exceeded 5,000 yuan per mt while for some imported sugar the figure is about 4,000 yuan. (5 September 2014)
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