Rising sugar price makes it difficult for related companies
The price of the sugar, by October 28, had increased to 7,387 yuan ($1,105) per ton from the previous 3,000 yuan ($449.1), according to reports Monday citing data from China Sugar Index (CSI).And such hikes have rendered companies of the field unable to cope and getting into mass losses. Which is giving them (companies) no option but to find a way to adjust so as to keep active.
Triggering a reaction, some candy manufacturers, in order to minimize losses, have chosen to use syrups as raw material.
According to the reports, the decrease of sugar output in mass-producing provinces like Guangxi and Yunnan directly led to the price rise.
However, rising prices helped sugar companies soar high in the stock market.
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