After rising in the previous three weeks, Mexico estandar reference pricing traded marginally lower in the last week of March. Refined, which has been appreciating more slowly in March, made slight gains last week.
Source: SNIIM, McKeany-Flavell
Harvest area and cane crush are still lagging last season’s pace, but sugar production is up nearly half a percent YOY thanks to improved cane tonnage and sugar yield. Sugar output is up nicely vs. the five-year average.
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