128 Insights

Rosa Li

Rosa graduated from Jinan University in 2012 with a bachelor’s degree in Marketing. Rosa joined Czarnikow in 2014 and has been an analyst for 7 years in our Guangzhou office managing the data capture, analysis and visualisation within the Chinese sugar markets utilising her skills in SQL, Python and VBA while also providing content for our platform Czapp. Rosa is also responsible for the localization of Czapp in China – Czapp WeChat, she also assists with the commercial marketing in China and works towards strategy with the trading team.

Ask the Analyst: What Types of Sugar Does China Import?

China is one of the largest sugar importers in the world.
Liquid sugar and premix imports have been growing in import share.
Will this continue in 2023?

Rosa Li

1 year ago

2 min read

When Will China’s Refiners Buy Raw Sugar in 2023?

We think China will buy 4.5m tonnes of raw sugar in 2023.
This would make it one of the world’s largest raw sugar buyers.
Most of this demand is likely to appear in H2’23.

Rosa Li

1 year ago

2 min read

Chinese Sugar Producers Struggle to Remain Profitable

We think China will make 9.6-10m tonnes sugar this season.
Cane and beet processors will struggle to break even.
Molasses and biomass sales will be crucial.

Rosa Li

1 year ago

3 min read

Ask the Analyst: How is COVID Affecting China’s Sugar Consumption?

Chinese sugar consumption growth is still depressed.
Many cities aren’t free from strict COVID-19 controls.
2022/23 cane crushing is normal.

Rosa Li

1 year ago

2 min read

Chinese 2023 Raw Sugar Demand To Fall Again

We think Chinese raw sugar demand might be only 4m tonnes in 2023.
This would be the third successive year of decline.
A strong USD and weak domestic consumption are both hurting import margins.

Rosa Li

1 year ago

3 min read

Chinese Sugar Consumption Lowest in 9 Years?

Chinese sugar consumption in 2022 might have been the lowest in 9 years.
2023’s outlook isn’t much better: zero-covid and a weaker economy are hitting consumption.
This could lead to reduced raw sugar import demand in 2023 too.

Rosa Li

2 years ago

3 min read

Ask the Analyst: Why Would Chinese Sugar Refineries Import at A Loss?

Chinese refineries have been buying raw sugar even with negative margins.
Offtake has reached 4.3m tonnes for the year.
Will they continue to import with today’s margin of -160 USD/mt?

Rosa Li

2 years ago

2 min read

How Does Indian Rice Ban Affect Chinese Rice and Ethanol Market?

India has banned broken rice exports to ensure domestic supply.
Chinese rice production may be hit by the worst drought in 60 years.
China will need to find alternative feedstocks to make ethanol in 2023.

Rosa Li

2 years ago

2 min read

China’s Raw Sugar Demand Hit By Premix Imports?

China’s premix imports could hit 400k tonnes in 2022.
This flow might be depressing raw sugar import margins.
New customs codes for pre-mixes may not act as a deterrent.

Rosa Li

2 years ago

2 min read

Ask the Analyst: Why Is the Chinese Sugar Import Margin Stuck in the Red?

Chinese raw sugar import margins have mostly been negative so far in 2022.
Frequent and widespread COVID outbreaks put a major dampen on domestic demand.
Imports of liquid sugar and blend powder have soared, eating into the sugar market.

Rosa Li

2 years ago

2 min read

China’s Latest Efforts to Boost Sugar Supply Security

China is including sugarcane in subsidized agricultural insurance cover to protect farmer incomes.
China could produce 10.35m tonnes of sugar in the 2022-23 season.
This means it would still need to import over 5m tonnes of sugar.

Rosa Li

2 years ago

3 min read

O que as refinarias de açúcar chinesas devem fazer se as margens permanecerem negativas?

Rosa Li

2 years ago

1 min read