Mexico cane workers push for raise; poor rains for new crop
Estandar price higher in last week: The reference price for estandar rose 0.8 percent in the last week, though refined pricing was flat. Estandar and refined are up 7.7 percent and 2.9 percent, respectively, from a month ago.
Year on year, estandar is up 19.2 percent, and refined is up 8.4 percent.
Drought condition on Mexico’s Gulf Coast: Poor rains could mean lower sugarcane production and yield for the new crop. Mexico’s top-two sugar producing states, Veracruz and San Luis Potosi, lie on or near the country’s coast on the Gulf of Mexico.
The northern half of the top-producer Veracruz has seen a larger rain deficit, and reports from the state range from concerns over limited cane availability to suggestions that the drier weather may boost cane’s sugar content.
Precipitation, percent of normal
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