Why China’s sugar stockpiles may blunt an El Nino-fuelled global supply crunch

China is expected to slow sugar imports for the rest of the year as concerns grow over a global supply crunch and higher prices, with Thailand – the world’s second-largest exporter – facing a sharp drop in production.

The world’s second-largest economy relies on imports for about a third of its sugar supply, though high domestic stockpiles are expected to cushion the impact.

Analysts estimated only moderate increases in local prices for the sweetener, which is considered a strategic agricultural...