Published: April 18, 2026 — YnSugar Research
China’s sugar import activity accelerated dramatically in the first quarter of 2026, according to figures released by the General Administration of Customs of China (GACC) on April 18. The data points to a significant shift in trade flows, with import volumes climbing sharply while landed prices continue to trend downward.
https://www.ynsugar.com/chart/annual-sugar-import-volumes-of-china-2000-2026/
March 2026 Highlights China imported 100,000 tons of sugar in March 2026, marking a 41.9% year-on-year increase compared to March 2025. The total import value reached ¥279.22 million (approx. $38.62 million), up 4.3% from the same month last year. The noticeably slower growth in value relative to volume reflects softer global sugar prices.
Q1 2026 Cumulative Performance For the January–March 2026 period, China’s total sugar imports reached 620,000 tons, an increase of 470,000 tons year-on-year — a staggering 320.0% jump from the same quarter in 2025.
The average landed price (CIF, excluding tax) during Q1 2026 fell below the ¥3,000 threshold, settling at ¥2,925.76 per ton (approx. $404.67/ton). This represents a meaningful decline from the 2025 full-year average and signals favorable import economics for Chinese buyers.
2025 Full-Year Context To put the Q1 2026 figures in perspective:
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Total 2025 sugar imports: 4.92 million tons (+13.1% YoY)
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Monthly average in 2025: approximately 410,000 tons
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2025 average CIF price: ¥3,161 per ton (approx. $437.21/ton), excluding tax.
Key Takeaways for the Market The Q1 2026 surge suggests Chinese importers are capitalizing on weaker international sugar prices to rebuild inventories, with raw sugar comprising the majority of these shipments. The combination of sharply higher volumes and lower unit prices could have ripple effects on both domestic refining margins in China and global raw sugar demand sentiment in the coming quarters.
YnSugar Outlook
“The Window of Opportunity: Tactical Stockpiling or Structural Shift?”
The 320% surge in China’s Q1 2026 sugar imports is a clear signal that domestic industrial buyers and state-aligned traders have moved decisively to capture the “price floor.” With average CIF prices dipping below the $405/ton threshold, the import window has shifted from “marginally profitable” to “highly attractive.”
At YnSugar, we view this massive volume jump as strategic front-loading. By securing 620,000 tonnes in a single quarter, Chinese importers have established a significant buffer ahead of the 2026/27 Brazilian harvest. The critical question for Q2 is whether this momentum will persist if global prices remain soft, or if we are witnessing a temporary “inventory rush” that will lead to a cooling of demand in the coming months.
Source: General Administration of Customs of China (GACC) public statistics. Note: The majority of China’s sugar imports consist of raw sugar>>. Figures are provided for reference purposes only.
