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As one of the major producers and consumers of sugar, China ranked the global No. 3 and No. 2 in sugar output and consumption respectively in 2011. Sugarcane serves as principal raw material for sugar production and contributes more than 90% to the sugar output. In 2011, the output of Chinas sugar grew by 5.8% YoY to 11.7 million tons. The main producing areas of sugar are Guangxi, Yunnan and Guangdong which together account for about 85% of the countrys total output.
The leading sugar manufacturers in China include Nanning Sugar Industry Co., Ltd., Guangxi Guitang (Group) Co., Ltd. and COFCO Tunhe Co., Ltd., etc. In 2011-2012, as increased purchasing costs of sugarcane and falling sugar price shrank profit margins of the enterprises, the majority of sugar producers suffered a declining profit. Taking Nanning Sugar Industry for example, the revenue of the company rose by 9.0% YoY to RMB4.22 billion, and its net income plummeted by 73.5% YoY to RMB45.4 million in 2011. Later in H1 2012, the company made a loss of RMB44.1 million.
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