China: Sugar Annual
MY 2015/16 centrifugal sugar production is forecast at 10.8 million tons, down 1.8 percent from the previous year due to low operating rates and weak domestic prices. MY 2014/15 production is revised down 17.3 percent from the previous estimate following weather-related damage and large financial losses by sugar mills. MY 2015/16 imports are forecast to reach 5.5 million tons, up 700,000 tons from this marketing year as domestic production continues to weaken and prices remain far above international levels. MY2014/15 imports are revised up one million tons to 4.8 million tons as sugar production falls and the large gap between international and domestic sugar prices continues to attract imports. China is now the world’s largest importer and fourth largest producer of sugar. Sugar consumption is forecast to grow 1.7 percent in MY 2015/16 to 17.7 million tons driven by continued growth and investment in food manufacturing.
