Sugar prices continued declining as supply began to pile up. Production is in full swing, while exports remain unusually low. The peso is currently stable, though volatility should increase as presidential elections approach on July 1. The main candidates are Ricardo Anaya Cortes, representing the right-wing PAN. The incumbent PRI chose Jose Antonio Meade, a party outsider who has worked with previous administrations. The choice is strategic, as the current administration is highly unpopular. Antonio Lopez Obrador, who previously ran as PRD candidate, will run for a third time for a party he helped create, MORENA. Lopez Obrador has been a critic of U.S. policies, and NAFTA negotiations will most likely become more difficult if he wins the presidency.
Mexico domestic sugar reference pricing