• 广西政府或出台利好政策改善糖企资金情况,以放缓销售节奏支撑糖价。
  • 北方甜菜糖已南下竞争,但目前南方产区库存维持低位故冲击有限。
  • 后续需关注南方实际压榨进度和市场供应情况的变化。

市场热点回顾 

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原白糖期货价格走势  

  • 国际市场食糖价格维持区间震荡。因19/20的产需缺口扩大市场情绪有所回暖,但高企的库存压力挥之不去。
  • 国内市场上周糖价大幅上涨,这主要由于广西政府发布利好政策,为糖企缓解资金压力。
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国内白糖现货行情  

  • 甜菜糖南下进入传统甘蔗糖市场,但目前甘蔗糖主产区库存处于低位。
  • 加之广西政府要求广西糖厂延迟开榨,甜菜糖对价格冲击有限。
  • 需关注后续压榨进度和现货市场的的供应变化。
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2019/20 榨季产量预估   

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替代品价格跟踪  

  • 秋意渐浓,进入饮料消费淡季,这意味着对果葡糖浆的需求亦趋于减少,企业挺价意愿有限。
  • 这意味着果葡糖浆和食糖价差有可能进一步拉大,不利于食糖消费。
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Rosa Li

Rosa graduated from Jinan University in 2012 with a bachelor’s degree in Marketing. Rosa joined CZ 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 CZ App. Rosa is also responsible for the localization of CZ App in China – CZ App WeChat, she also assists with the commercial marketing in China and works towards strategy with the trading team.

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