Through August, CNDSCA estimated Mexico’s sugar exports at 1.018 MMT, down 36 percent YOY. IMMEX sales were reported near 337,000 MT, down 24 percent YOY.
Per trade sources, Mexico has been importing—at a hefty tariff price—sugar from world origins like Brazil and even from Asia. Through August, cumulative imports are estimated near 223,000 MT, up very strongly from total imports of 6,440 MT a year prior.
Sugar prices continued appreciation in the week of Sep. 18. For September to date, estandar and refined reference pricing averaged 1,301 pesos and 1,675 pesos per 50 kg, respectively, up 6.3 percent and 0.5 percent from the August average.
The full version of this commentary appeared on our IQ platform Sep. 18, 2023. Further information, statistics, and pricing for the sugar market are available to IQ subscribers.Learn more about becoming a subscriber.
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