Mexico’s sugar production seen at lowest in 10 years

Sugar

Mexico

Sustainability & Environmental Impact

Market & Price Trends

Published Jan 24, 2024

Tridge summary

Mexico's sugar production is expected to fall by 15% to 4.7 million metric tons in the 2023/24 season, the lowest in a decade, due to insufficient rainfall affecting sugarcane crop development, says Czarnikow. This will likely lead to Mexico importing sugar, mainly from Central American producers like Guatemala, Honduras, and El Salvador, to fulfill its export quota to the U.S. This comes as India, which accounted for over 50% of Mexico's sugar imports last season, is unlikely to export this year due to limited local production.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Mexico’s sugar production in the 2023/24 season (Oct-Sept) was projected on Friday to fall 15% from the previous crop to 4.7 million metric tons, the lowest volume for the last 10 years, said analyst and supply chain services provider Czarnikow. Mexico’s sugarcane crop had a poor development this season, due to insufficient rain, resulting in low cane volumes per hectare as well as poor industrial yields during processing, Czarnikow’s analyst Stephanie Rodriguez said in a report. “With lower sugar production, Mexico will have to import sugar, just like we saw last season,” she said, adding that the country will likely buy sugar from Central American producers such as Guatemala, Honduras and El Salvador to be able to fulfill its export quota to the United States. Last season, more than 50% of Mexican sugar imports came from India, an origin that is unlikely to be on the market this year, as the Indian ...

Source: UkrAgroConsult