According to the data from China Sugar Association: By the end of September in the season of 2007/08,the output of key sugar producers is 10.54 million tons. Altogether 9.21million tons has been sold, making the production/sale ratio at 87.36%, while the figure of same period last season was 95.72%. The average sugar price is 3,423.83 RMB/ton, while the price was 3,776.88RMB/ton last year; the price of beet sugar is 3,709.68 RMB/ton (4,058.01RMB/ton last year); the price of cane sugar is 3,404.33RMB/ton (3,752.01 RMB/ton last year).

Altogether 635,500 tons of sugar has been sold by key producers in September, the average price is 3045.18 RMB/ton; the price of beet sugar is 3688.94 RMB/ton; the price of cane sugar is 2991.94元RMB/ton.

List

Preface 4

News Flash 5

1413.78 Tons Saccharin Sold to Domestic Market till End of August, 2008, down by 16% from Same Period Last Year 5

Sugar Output and Sales in Key Sugar Producers by the End of September 5

Growing Production of Food with Sugar Content from January to September 2008 5

ISO Foresees Limited Impact on Sugar and Alcohol Industries from Economic Crisis. 6

Funding Shortage for Sugar Mills in India May Lead to Postponement of Crushing. 6

Thailand: Financial Crisis Kept Thai Export Price Down 6

News & Analysis 7

14.84 Million Tons Sugar Production till End of September 2008, 13.30 Million Tons Sold 7

1.27 Million Tons of Surplus Sugar at the End of 07/08 Season to Be Sold in 08/09 Season 8

Analysis of Sugar Supply and Demand in 08/09 Campaign 8

Comparison of Domestic and International Sugar Prices in October 2008 10

Price Trend 13

Import&Export 16

Sugar Import and Export in September 2008 16

About BOABC 19