Asian buying curbed the downward trend of sugar price (4.28)

OA show ('918 '); Dow Jones news London, April 10: the International Sugar Organization (ISO) said in a report released on Friday that the downward trend of international sugar prices has been curbed by Asian buying actions In the last trading day of March, influenced by the news that China, Pakistan and Russia bought sugar spot, the price of white sugar rose, breaking through the important psychological resistance price of $180 per ton According to the ISO report, China's sugar production in 1999-00 was 6.8 million tons, and it may import 400000 tons of sugar to make up for its insufficient production Although so far, the purpose of China's reservation for imported sugar is to re export after processing of raw materials, so as to earn the price difference between white sugar and raw sugar and the processing fee At the same time, Pakistan may import 350000 tons of sugar in 1999-00 due to the reduction of domestic sugar production The country's first cargo ship carrying imported sugar since 1997-98 arrived in Pakistan in March Its supply mainly comes from China At the same time, Russia's buying has also boosted the market, the report said, although the influence won't last long Russia has decided to raise its sugar import tax, which will rise to 15% from April 29 and then to 40% from June 15 This means that from the second half of May, Russian sugar buyers will disappear from the international market From the perspective of sugar suppliers, ISO forecasts that the sugar production of Brazil in the new pressing season (from October 1999 to September 2000) will be about 19.1 million tons, 12% less than that of the previous pressing season Australian production is also forecast to decline Affected by the bad weather process in February, it is estimated that its sugar production will be reduced by 25% The bad weather that followed in March further suggested that "loss of production" was almost certain (provided by Liu Ying) China feed industry information network S65 (author:)