郑州商品交易所白糖

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1、郑州商品交易所白糖期货投资分析姓名：沈克宇学号：0840405113专业：经济学目录1白糖合约概述·····················································11.1我国食糖的生产················································11.11我国白糖生产的特点··········································21.12食糖的种类·························

2、··························31.13食糖的榨季··················································32基本分析··························································32.1白糖价格的主要决定因素········································32.11、食糖产销不稳定是造成价格波动的主要原因···········32.12糖料生产的波

3、动是食糖市场波动的根本原因···········42.13、国际市场的变化以及进口和走私对国内食糖市场的影响较大····42．2糖价的季节性走势·············································52.3白糖的商品属性················································52.4国内外糖价走势的关系··········································53技术分析图·············

4、···········································63.1郑州白糖期货与ICE原糖期货价格走势对比图·····················73.2郑州白糖期货与现货价格对比··················73.3分时走势图··························83.4K线图································83.5趋势分析·································83.51、国际食糖供求过

5、剩及宏观环境偏空压制糖市················93.52、新榨季初期国内食糖现货大幅回调，拖累郑糖期价下行·······103.53、主流资金减多增空，打压期价··················103.54技术面——加速调整势······························114总结·································11郑州商品交易所白糖期货投资分析1白糖合约概述食糖是天然甜味剂，是人们日常生活的必需品，同时也是饮料、糖果、糕点等含糖食品和制药

6、工业中不可或缺的原料。食糖生产的基本原料是甘蔗和甜菜，甘蔗生长于热带和亚热带地区，甜菜生长于温带地区。我国甘蔗糖主产区主要集中在南方的广西、云南、广东湛江等地，甜菜糖主产区主要集中在北方的新疆、黑龙江、内蒙等地。尽管原料不同，但甘蔗糖和甜菜糖在品质上没有什么差别，国家标准对两者同样适用。1.1我国食糖的生产糖厂利用甘蔗、甜菜榨取糖汁，经过沸腾浓缩，中心分离形成糖结晶，这种结晶称为原糖，呈浅棕色。原糖经过提炼后，成为日常消费的成品糖（如白砂糖、绵白糖等）。国际上大多数发达国家制糖是采用“原糖——精糖”

7、二步法的制糖生产方法，即“田间糖厂（产出半成品的原糖）+精炼糖厂（产出精制糖）”生产方式，先是生产原糖，然后再回溶生产精炼糖的方法。大部分糖厂生产原糖，然后供给精炼糖厂进行精炼生产精炼糖，作为饮食用糖供应市场。我国糖厂几乎全部采用一步法生产，即糖厂通过甘蔗榨汁、沸腾浓缩、中心分离、提炼等工艺一次性直接生产出日常消费的白糖，所以我国食糖市场流通和消费的基本都是白糖，而国际贸易则以原糖为主。与二步法相比，我国一步法生产的一级白砂糖只相当国际耕地白糖的标准，质量相对较差，基本没有出口市场。1.11我国白糖

8、生产有如下特点：一是糖料与其它作物不同的是，收获后不能直接变成商品糖，必须经过工业化加工，因此白糖属于工业品。二是由于工业化加工需要较大的设备投入，糖价高且有充足的糖料时，加工能力的增加滞后；同样，糖价低或原料不足时，加工能力又不容易很快减下来，因此，糖价格波动周期比一般农产品要长一些。三是2002年以来，北方的甜菜糖生产大幅萎缩后，近年来连续恢复性增产。进入90年代，我国食糖产量增加，市场供应充足，糖价走低，生产甜菜糖无利可图甚至损失惨重。受此影响，我国甜菜糖年产量