Frbiz Reports Sugar Prices Soar

Jan 05, 2010, 10:00 ET from

BEIJING, Jan. 5 /PRNewswire-Asia/ --, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, reports a rise sugar prices.

Garlic, peppers and other produce prices just surged, then condiments, such as sugar also immediately began to increase in price. Frbiz analysts recently found that from the beginning of the year to the present, the wholesale price of sugar has doubled.

Frbiz analysis is that increased sugar prices are mainly due to reduction of sugar cane and other raw materials output. Also, before the Chinese Spring Festival, sugar prices will continue to go higher -- up 500 RMB per ton.

It is reported that prices of sugar on the market, mainly from Guangxi, Guangdong and other southern areas, are relatively higher.

From April 2009 to now, the average price of sugar rose 60 percent. Analysts said that this is mainly because of the rise in raw materials prices. Last year, sugar prices soared, from the beginning at 2,900 RMB/ton to 3,900 RMB/ton in May, and then to 4,900 RMB/ton in August, and in December they broke the 5,000 RMB/ton mark.

Sugar price increases are mainly due to the domestic sugar producing areas, like Guangxi province being in drought, resulting in reduced sugar production. At the same time, the industry expects inflation, but also sets the price of sugar.

Sugar prices are very firm and have great possibility of going up, as sugar ( ) demand is very strong now, and analysts forecast that sugar prices will continue rising before the Spring Festival, up 500 RMB per ton, or maybe further.

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