Heavy Rains are Decreasing Colombian Sugar Exports

"La Niña" Phenomenon in Colombia is causing heavy rains, affecting Colombian sugar exports due to lower supply. Rain affects the production volume, reducing the available supply for exports and making sugar mills cautious about new deals. Sugar mills are prioritizing signing deals for specialty sugars over commoditized sugar. In July, rains receded, and crops started to recover, but the August forecast is not encouraging since the expected rainfall could double compared to the historical average.