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NANNING, DEC 25 (CEIS): The spot price in China's sugar market has undergone a drastic increase starting December and a drop will not come soon, said experts recently.
The sugar spot price has topped 3,900 yuan (481 US dollars) a ton, 1,300 yuan (160 US dollars) a ton more than during the same period last year, in the southern Guangxi Zhuang Autonomous Region, which produces half of the country's total.
This April, the sugar futures price in the New York market hit an all-time high of 13 US cents per pound over the past 10 years. On December 8, the London sugar market recorded its white sugar futures price at 332.4 US dollars per ton, a year-on-year rise of 7.4 US dollars, according to sources from the Sugar Association of Guangxi.
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