China revises down sugar output forecast for 2022-2023
China's sugar output from October 2022 to September 2023 is expected to reach 9 million tons, according to a Ministry of Agriculture and Rural Affairs report.
It is reported by China Daily.
The projected output was down 330,000 tons from the previous forecast made last month, according to the report released by Chinese Agricultural Supply and Demand Estimates, under the ministry's Chinese Agriculture Outlook Committee.
The monthly analysis report attributed the revision to lower sugarcane output in South China's Guangxi Zhuang autonomous region, the country's major sugar manufacturing base.
The report also said sugar prices in the Chinese market would rise to a price range of 5,950 yuan ($863.8) to 6,550 yuan, up from the forecast of 5,650-6,200 yuan made in March this year.