Mexico’s crush campaign remains strong, with harvest area up nearly 11 percent YOY and up 8 percent from the five-year average. Cane crush is up even more strongly, up 15 percent YOY.
With sugar recovery also up, total 2020/21 production reached 2.826 MMT as of Feb. 20, up 23 percent YOY and up 5 percent from the five-year average. USDA currently forecasts Mexico’s 2020/21 sugar output at 5.95 MMT.
February reference pricing for estandar was down 2 percent from January, up 15 percent YOY. Refined pricing was down almost half a percent from January and up 22 percent YOY.