Sugar industry reduced its exports

Sugar exports represented the eighth best-selling product in 2021, according to data from the Bank of Guatemala (Banguat). Even so, the figures are not so positive for the sugar industry compared to the previous year, registering USD 68.8 million less in registered exports. According to Banguat figures, in 2021, 29 million quintals of sugar were exported, equivalent to USD 507.9 million, while in 2020 the value was 36.5 million quintals, equivalent to USD 576.8 million.

The reduction in exports is the effect of several factors. One is that less sugar was produced in 2021 compared to the previous year. Another factor is that there was an increase in domestic consumption, leading more sugar to be sold domestically as opposed to being exported.

The production of the last harvest was 55,779,919 quintals, of which 40% supplied the domestic market (22,400,590 quintals). In comparison, in 2015, only 30% of the sugar produced went to local consumption.