Mexican domestic sugar prices spike on cane grower protests
In the last week, the refined sugar price fell 1.1 percent, a more rapid decline than in previous weeks. Pricing for estandar, however, gained 6.0 percent to pre-harvest levels. This atypical increase in price can only be attributed to the market’s reaction to organized cane grower blockades of mill warehouses.
Sugar mills are in the middle of their crush campaigns, but many are now reportedly scrambling to find storage for their sugar in order to avoid having to slow or halt processing.
Mexico domestic sugar reference prices
Source: SNIIM, McKeany-Flavell
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