China’s output of sugar could decline by up to 300,000 metric tons this year after severe winter weather damaged crops in Guangxi, Bloomberg reported, citing a report from brokerage Wanda Futures. Snow and frost may have affected up to 40% of thesugarcane in Guangxi, the source of most of China’s crop. Lower domestic production is expected to boost imports of sugar, which already rose 57% year-on-year in the January-November period last year. With cold weather expected to continue in the coming days, a Wanda analyst said the industry may have underestimated the extent of damage to China’s sugarcane crop.
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