Through the end of April, Mexican sugar production reached 4.68 MMT, down almost 17 percent YOY and down over 12 percent from the five-year average. In a typical season, 83 percent of output has been produced by the end of April.
Reference pricing for both raw and refined strengthened in April. Estandar pricing dipped slightly in the last week of April but is still up slightly from the four-week average and up nearly 18 percent YOY.
Refined pricing rose half a point in the last week of April, closing the month up under 2 percent from the four-week average and up nearly 17 percent YOY.
The peso has strengthened slightly in the last week but remains in its two-month range.
Through May 3, Mexico 2019/20 exports to the U.S. are reported at 692,641 MT. ROW exports are reported at 30,474 MT, and IMMEX volume at 171,192 MT.