Through week seven of Mexico’s 2022/23 sugarcane campaign, sugar production was running behind last season and the five-year average. Crush to date is down 27 percent YOY.
Early figures of sugar production, with just a handful of mills in operation, are not indicative of the full season’s potential, of course. As is typical for early production, output is nearly all estandar sugar, with some minor production of low-polarity sugar reported.
CNDSCA’s initial official forecast for 2022/23 production was near 6.03 MMT, above USDA’s forecast and our own forecast, both closer to 5.90 MMT.
Reference pricing for sugar was up marginally for both estandar and refined. Estandar and refined pricing are up about 22 percent and 10 percent YOY, respectively.
Mexico weekly sugar production by season
Source: CNDSCA, McKeany-Flavell
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